What is my next step?
My name is Jackson Pent and I am living in the Greenville, SC area. This area is near Clemson University and it is booming. Because of this, I want to get my foot in the house-flipping game. I have worked in construction for over 8 years and have no problem renovating houses. I have three investors each willing to buy a house with cash. I would do all the renovations, and then when the house resells we would split up the profits. I am trying to find the right house currently. Really trying to find something that just needs some lipstick and not open-heart surgery. The investor doesn't want to spend more than $130,000 on the house and the Reno combined. I need ideas on how to structure the deal with the investors so that It is done with minimal risk to both of us. I need to know if I should get an LLC or just let the investor take care of that part and I focus on finding the deal and doing the reno. Also, what would protect me throughout this process as I won't own any of the property myself? What does a fair deal look like in this situation?