Partnership with Contractor (Sweat Equity)
I'm renovating a triplex, my contractor did an excellent job renovating the first unit. We discussed a partnership and agreed to him collecting 10% of sale proceeds, in exchange for his sweat equity to renovate the remaining two units.
I'll be paying his helper weekly, and reimbursing him for materials.
Has anyone done a similar arraignment? I'm looking for a sample contract to draft. Any help is appreciated!