Wanting to sell my half of a commercial property
I’m 50/50 on a commercial piece of real estate. It’s 3 units. I’m currently in a financial hard spot in another business and need this capital to get out. What’s the best way to go about it when my partner doesn’t want to sell the property. 
I guess I should have him buy me out but what are the best ways to go about this. What if he doesn’t want to buy me out, do I have any other options?
[{"id": "evgmcf2", "text": "I'm assuming you don't have an agreement that addresses this. How is it organized? Partnership? LLC?\n\nWhy can't you find a 3rd party to buy your interest?", "replies": [], "depth": 1}, {"id": "evgtrcx", "text": "If it\u2019s a good property and location then if you get the information in front of buyers and price it right, it might just take a few months but should be able to be sold to a 3rd party", "replies": [], "depth": 1}, {"id": "evh3y1c", "text": "Minority interests are much less liquid than whole buildings. It\u2019s a weird niche. Marketing takes longer and valuations are lower, which makes sense since the new owner has to deal with your buddy. \n\nThere are specialists who deal in them, maybe someone here can recommend one.\n\nYou will also have a hard time getting a loan, unless you sign a personal guarantee and have other substantial assets.\n\nGood luck.", "replies": [{"id": "evi2zk5", "text": "It may offer an opportunity for individuals looking to invest money from their self-directed IRA  -- they often have trouble with financing so this is an opening that would appeal to them.\n\nAlso, a qualified intermediary in the area may know of an upcoming or in-progress 1031 that has enough kicker left to do a smaller deal.", "replies": [], "depth": 2}], "depth": 1}, {"id": "evh7cfr", "text": "Depending on how much debt you have on the property, your partner could get a loan and buy you out. Or you could try to find someone else to buy you out", "replies": [], "depth": 1}, {"id": "evhl1jc", "text": "Assuming you have an LLC or partnerships, You need to read your operating agreement. If it\u2019s competently draftee it will have a liquidation procedure that you must follow.  If you have no agreement,  your state\u2019s partnership law will dictate.", "replies": [{"id": "evhl54e", "text": "Thank you. We do have it properly documented and an LlC so I\u2019ll read it.", "replies": [{"id": "evit6br", "text": "As Sully said, you will need to follow the LLC documents.  Love it or leave it.  Hopefully the document is to your liking.  If not, you are stuck with it.  Good luck with liquidating.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "evja35p", "text": "Have someone else buy you out and buy in? Where are you located?", "replies": [], "depth": 1}, {"id": "evo5ino", "text": "QuickLiquidity purchases and lends on real estate LP secondaries. $1m minimum. Remember though Quick + Liquidity = Di$count", "replies": [], "depth": 1}, {"id": "evoefbm", "text": "Golden rule: Do not throw good money after bad.", "replies": [], "depth": 1}]