Flipping with a partner

5 Replies

Im starting out flipping houses with a partner of mine in Florida. Any advice or tips for running a partnership flipping houses? How you guys handled the money? Hat you did to prepare for the business?

Be sure each party is clear on their roles, expectations, and responsibilities. Who manages the contractors, how do you decide something if you disagree on cost or type and style of material etc. 

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Use a joint venture agreement that very carefully defines the roles each of you will play, and at the end of the transaction, how you will split profits.

Do one of these for every deal...

We do it with investors all the time... no one has a problem with it.