Equity partner on a flip

[Cin Khai]

What are the things that I need to know or experience I need to have before going in a JV with a GC also an agent on a fix and flip? I'm currently looking at this route and would love to learn what to expect from the GC partner including operating agreement, pricing, timeline vs money schedules etc anything. Thanks in advance.

[Tanvir Sattar]

I would recommend creating an LLC. I would divide ownership of the LLC by calculating total cash investment by the members. Give each member an ownership stake equal to his cash investment. Two members contributing $35,000 apiece would each receive a 50 percent stake in the company.