Partnership contract examples

[Jordan Bowen]

I am about to embark on my first flip with an experienced REI that I met in college. He has successfully flipped numerous houses and has run a LLC for 5 years with a lawyer on retainer for legal purposes (whereas I have no lawyer). We have verbally agreed that I will fund the property in cash and he will fund the rehab in cash. I find out today if my offer is accepted then we have a 10 day option/inspection period. I do not want to be naive and just “trust” someone cuz I met him in college and he’s a good guy. I’m looking for a solid contract that ensures we each keep our part of the deal alive and then we split the ROI however we deem fair. I am open to all advice regarding this matter. Thank you!

[Costin I.]

@Jordan Bowen Read these threads and articles:

• How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor
• how-do-i-properly-construct-a-purchase-with-a-partnership
• https://www.biggerpockets.com/forums/51/topics/591...
• Taking-on-partner-s-and-limiting-our-liabilites
• Questions-for-capital-partners/
• Real-estate-partnership-questions/