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Updated about 19 years ago on . Most recent reply

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Rehabbing Questions

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Posted

Hello everyone,

I want to get started in real estate investing by rehabbing homes.

I have 6k to invest and my FICO is at 600 and getting better with time. I have a partner with excellent credit (740 FICO) who is willing to secure a mortgage if i find a profitable flip.

I also have another partner who just started his own company/corporation and is currently working on his first flip through an experienced investor.

My questions are:

What is the best ways to structure a deal/agreement with my partner with credit? Should we split the profits 50/50 or should my partner get more since their securing the mortgage?

Can i use my partners corporation when buying, fixing and selling flips? If so, in what ways?

Thanks

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