Having flipping partner.

[Sam Alkattan]

can someone explain the pros and cons of having a partner for a single flip property. Keeping in mind we both never done a flip before but we’re thinking of starting together. 

[Benjamin Aaker]

Partnership Pros:1. Share the work. 2. Share the costs/expenses.

Partnership Cons: 1. Difficult to make decisions, and can become gridlocked. 2. Someone inevitably does more work than others

The only reason you should partner is iIf you can't do the deal alone. Partnerships can wreck friendships/family if you screw up. Your first real estate deal has a higher likelihood of failing, so consider this carefully. That being said, I have a few partnerships. I took the time to detail exactly what each would bring to the table and we signed a written agreement (Operating Agreement for the company). So far, things are working well.