Partnering with land owner to build a house
Hi,
I know some body who owns a lot worth about 100k. I am considering building a new house on this lot. He likes the idea but all he has to offer is the land and nothing else. He does not have the money towards any construction related cost but he agrees to take the payment of his land once the house is sold. so in essence I am borrowing 100k from him for 6-8 months.
Can someone more experience suggest how I structure this kind of deal?