getting staked for a higher limit - advice needed

[nuSFwck]

tonight a friend and i talked about a staking proposition. he is 25 years old and has roughly a $100k roll. he owns a car garage that he puts about 10hrs/week into, and he does not recieve a paycheck from it. currently, poker is his only source of income. i am a 22 year old college student, and my roll is $4k. i do not have a job. i live in charleston, SC, and he lives in portland, ME. these are the pertinent facts, if i have left anything out, just ask.

we want to get me properly bankrolled for $3-6NL. we decided we don't want to include any of my roll into the plan, because that will just confuse things. so, he needs to transfer me $12k, somehow. when he mentioned the idea of bankrolling me, i told him i wouldn't feel comfortable doing it unless he was willing to invest 20 buy ins.

he is obviously very confident, as am i, in my game. we have played thousands of hands together (B&M and online), so he is very clued into my game. i do well in the $1-2 game on party, and i have played some $3-6 and $5-10. my limited results on these tables are fine, in the past i've played these higher levels for a few hours, done fine, and returned to my normal game. he and i both know i am capable of succeeding at the $3-6 level.

we've decided we want to do this as professionally as possible. we want to create a schedule for payment, a way for him to monitor my progress, etc. we have some ideas on how to do this, but i thought i'd seek some advice here. how can he transfer the funds online? if that isn't feaseable, is there someway to get the money from his bank account to mine?

what about payment plans, is there an optimal plan to follow regarding repayment? in the event this plan begins to fail, at what point should we cut losses and bail on the idea? what should he expect for a return on investment %? earlier this year he properly staked me for $50NL and he recieved a 3.5x ROI.

i know i've asked a shitload of questions, but we want to make sure we get this right. he is comfortable investing 10% of his roll in me, and i'm comfortable accepting it.
what other aspects of this idea am i forgetting? most importantly, what can we do to IMPROVE this investment idea?

thanks in advance for any advice.

[Solovon]

Are you both prepared for you to lose several buy-ins right off the bat, or will an initial bad streak sour the deal?

[tonypaladino]

[ QUOTE ]
Are you both prepared for you to lose several buy-ins right off the bat, or will an initial bad streak sour the deal?

[/ QUOTE ]

This is key.

This might be a situation where seting a loss limit is a good idea. Not necessarily on a particulart table....but on the whole deal. Or maybe a combination loss limit/risk of ruin plan to whereas if you lose say, 20-30% of the roll, you drop down a level until you rebuild to, or close to the original stake. I think I like this best. It gives the plan a chance to develope if the first few session are miserable.

[nuSFwck]

[ QUOTE ]
Are you both prepared for you to lose several buy-ins right off the bat, or will an initial bad streak sour the deal?

[/ QUOTE ]

yes. we are both aware of bad streaks/ bad runs, and are both accepting of the fact it could happen in this instance. he has enocouraged me not to worry about losing the money. i feel comfortable playing through a bad streak, and i think moving down in limits, if necessary, is a great idea.

[EStreet20]

Good luck no matter what arrangement, if any, you guys make. While I don't see this deal as necessary, as I too was once a college student and, though I had not discovered playing poker for income at the time, know that if I was where I'm at now back then, which you seem to be (or perhaps better) I could have easily covered all of my expenses and probably saved some money or moved up in limits in time, with a bankroll of 4K. However, for whatever reasons you have you want to do this so I'll second the motion to have a loss limit in place here. I just think that the psychological wear and tear you both may experience if you hit a bad run with your friend's money will cause tension in your friendship and probably negatively impast your play and his. Once again good luck.

Take care,
Matt