Updated about 10 years ago on . Most recent reply
Flip partnership with contrator
so I want to flip with my contractor I have some questions
I will buy house in my name all cash with my money
Contractor and i split profit in eventual sale of house Fifty/fifty
He invests his time and work
I invest money
Questions: do I get interest fir use of my capital at lets say 3 or 4 percent for the time of construction? what portion on my money on the house money or the remodel money?
Can he get a license and be my listing agent when we sell and make 3 percent on sale price? We are in California
Can I lease the house after fix up and then get 1031 in the sale ? While we rent I give contractor ten percent of rent
What should be the legal structure
What is the tax treatment of the gain to contractor