Flipper/Rehabber · Denver, CO · Member since 2009 · 1k+ posts · 726 votes
6y
Alice, just be aware of who you are partnering with, and make very clear who is doing what. Strong expectations up front can save a TON of headache later, clearly drafted partnership agreement is a must as well.
As far as split? Well, thats 100% up to you and your partner. Typically it would be a 50/50 split on work and funding, but everything is negotiable!
Looking into partnering up with a partner who can fix up a small property.
They’re putting in the sweat equity and the deal and I’ll be putting in the funding. Will get a lawyer to draft up the agreement.
Would love to hear from your experience what I should be careful of, what would be a reasonable split and etc.
Thank you BP community.
Best,
Alice
Make sure your partner has experience and a successful track record flipping or doing renovation work before you partner. 50/50 could be a fair split if everything is as you describe.