All Forum Posts by: Kendra Penski

Great points all around. Sounds like most folks are in agreement that it's better to just hire the contractor for their work and not JV with them. Thanks!

Thanks for the input! The reason for partnering would be to save costs of paying a contractor for the work up front and instead having their income through the profits. Otherwise I'm having to get hard money or private loans at 10% interest to pay them which further cuts profits. 

@Jeff Keller Thanks for the input! Appreciate it.

Hi, I am wondering how folks structure flip deals when they joint venture with a contractor? Who pays the costs for the rehab and how do you structure the profits. Thanks for any ideas!

Thank you all for the suggestions, appreciate the help. I have already pulled prelim title to review things. Now I just need to figure out the best contract to save $ and protect myself at the same time. These ideas and suggestions will definitely help!

Hi, I am in the process of purchasing a home from an owner who will carry the financing. I would prefer to keep title it in his name to prevent the increase in taxes if it were to transfer to me, however I am concerned about the legal pitfalls of this. Does anyone have advice on the best option? Perhaps a lease option? But even with a lease option how I would I protect from the owner getting a judgment or lien against the property? Thanks in advance for any suggestions!