I have 2 investor friends with $$ and no time. They have flipped about 5 houses and own ~ 30 doors currently.
I have 7 SFH's , the plan is for my to investors to front the money and I will be the point man on doing all the subcontracting without putting my money in to the deal. They are good with splitting profits into 1/3's, but we are working on some other compensation for all my time being the point-man for all the sub's and keeping up with the entire process.
Any suggestions or advice would be really appreciated.
Wade: There are a multitude of posts on BP that deal with this topic if you do a search. In order to clarify for those that will read this post and want to answer:
1. Will you be locating the properties and evaluating them?
2. Your position will basically be project manager, and handle finding, getting bids and scheduling subs?
3. Are you a licensed contractor or broker? If not, what is your experience?