Updated about 5 years ago on . Most recent reply
Partnership Math on a Flip. Help!
- First off, forgive me because I know there are similar threads but I'm hoping I can get some very specific help.
I'm in Google Sheets/Excel working out what was proposed to me and now we got three people with separate numbers.
Scenario:
- General contractor brings me a deal:
- He will cover rehab costs in exchange for 50% split of profits and by providing me a hard money lender using his reputation, as I have not been able to qualify for one.
- Purchase Price: $410K
- Rehab Estimate: $30K
- Hard Money 10% Interest Only + 2 points @ 85% of total project cost. (Points financed w/total project cost): $8,800 for pts.
- Total Project Cost: $448.8K
- ARV: $545K conservative
- Estimated rehab time 4 months
- Estimated 3 equally spaced draws on the rehab cost
- If anyone can help me reconcile these numbers including the payout to each "partner" it would be greatly appreciated.
- Thank you BP!