I'm a newbie and looking to venture into my first partnership for a fix and flip. I'm bringing the funding into the deal and my partner is bringing in the rehab expertise.
My question is, what steps does one take to protect themselves when they are the one bringing the money into the deal? What's to stop a partner from dropping the ball and leaving you with all the debt? How do I structure the agreement between partners so I'm covered?
I would fire start by finding a good to great real estate lawyer to cover your interest and your partners. They should be able to lead you in the right direction.