Updated almost 4 years ago on . Most recent reply
Partnering in a deal?
I'm considering partnering on a flip with an experienced flipper/real estate agent. He suggested 1)an LLC with us as partners and 2) he found the property, knows the contractors, will oversee the work and selling and 3) I provide the funds for purchase and renovation (about 90k total) and 4) a 70/30 spit of profit, with me at 30%.
Is this typical? Good? Any Thoughts?