I’m not looking to be greedy, but I also don’t want to undervalue the work I put in.For those of you who’ve done similar partnerships:What’s a reasonable promote or profit split for the person who sourced the deal and ran point on everything, when the partner is funding the entire equity stack?

Quote from @Amritpreet Singh: Anybody know a lender who do the Morby method/stacking?

The difference is usually just stacking filters.

Great topic — ground-up projects can produce strong margins, but execution risk is where many investors get caught off guard.From the builder/developer side, the biggest challenges we consistently see are:1️⃣ Site Work UnknownsFill, compaction, drainage, and soil conditions can shift budgets quickly — especially in markets where lot conditions vary significantly.2️⃣ Utilities & Impact FeesWater/sewer access, well/septic requirements, and local impact fees are often underestimated during underwriting.3️⃣ Environmental FactorsProtected species, wetlands, and flood elevation requirements can affect both timelines and build costs.4️⃣ Permit TimelinesApproval periods — particularly when civil or environmental reviews are involved — can extend holding costs beyond initial projections.5️⃣ Builder Execution CapacityProject success often comes down to the operator’s systems, trade relationships, and cycle times — not just the numbers on paper.Because of these hurdles, we’re seeing more investors lean toward ready-to-build projects — where feasibility, plans, and permitting are already in progress or completed — as a way to reduce entitlement risk and shorten timelines.Ground-up can be extremely rewarding, but the upfront diligence and execution planning are what ultimately determine outcomes.Always happy to compare notes with other investors and builders working through similar projects.

HELOC rate is higher, but it’s only on part of the stack, so blended cost still comes out lower.End goal: more cash out, better rates overall.

Quick checkpoint run your true cash needed to close plus 3 to 6 months of carry and a 10 percent rehab overrun reserve, then make sure your projected profit after interest, points, utilities, insurance, taxes, and realtor fees is still at least 15 to 20 percent of total project cost or you are taking all the risk for free.

Quote from @D Kimberly: I’m under contract on a value-add commercial property with strong in-place cash flow and a clear refinance path.First-position financing is in process, but I’m evaluating different capital stack structures to optimize speed and flexibility at closing.Specifically, I’m curious how experienced operators here have structured:• Temporary equity partners vs. preferred equity• Short-term bridge capital prior to stabilization• Buy-out provisions post-refinanceFor those who’ve executed similar transactions, what structures have you found most efficient and lender-friendly?

The second thing would be to further automate this flow by creating an automation stack.

When numbers detach from construction reality, underwriting reality, and capital stack reality, the conversation should shift from “returns” to “risk.”Before debating upside, I’d want boring answers:Who holds title to the land?

Nice momentum — stacking multiple flips at once changes the capital conversation entirely.Are you running those sequentially or overlapping timelines?