How should i start this partnership?

2 Replies

@Manny DeSa

Speak to an attorney. Maybe if you purchase the property 100% yourself, have him do all of the work, one of you pays for all of the materials and when it sells, you split profit 50/50. If anything goes wrong the house is already in your LLC name (no need to foreclose - just find a new contractor). Make sure he is licensed and insured for everything he is doing. Have him add you to his insurance. Just an idea. A number of ways you can arrange it, depending on the price, resale and the amount of work that needs to be done.

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