Need help deciding percentage of partnership payout
I'm a licensed contractor and just sold my second flip.
I cleared $10k on my first one.
We ended up clearing $30k on the second one.
The last flip was very stressful for my wife and she wants to keep our finances (HELOC) out of the next one.
I am going to look to find a financing partner to cover the carrying costs of the next flip.
On a $400k house (average for my area), the total investment would be $85-$95k and would be paid directly to the lender and subs/suppliers, not to me.
I can bring the lender, as I have a good rep with the one I use.
I will do all the rest. Find the house, flip it, sell it, pay my own personal expenses.
What would be a fair payout to a financing partner like this?
I would like to pay a percentage of the sales profit. What would be a fair percentage? 25%? -35%?
Is there a name for this kind of lending partner?
Thanks!
Jason Mills