How to compensate partners properly?

[Alex Prescott]

Hey would anyone be willing to give some insight on how to properly compensate partners.  I am a newbie investor in the Kansas City MO area and I am looking specifically at two kinds of partners for my first flip:

I need an agent to work with and pull comps often and in a timely manner.  I'm mostly interested in what is the proper etiquette in how to properly compensate them for their time and effort.  Is it enough to let them represent me on BOTH the purchase and the sale?  Seems fair to me.  I plan to set up some marketing and will need to pull comps often.  

I am also interested in having someone to help me through my first flip.  Just someone to come look at the property a few times and help with the reno ideas/budget and who I can call in case I run into something I might need help with.  I'm thinking 25% of the profits would be fair.  They don't have to bring any capital.  Just time.  I would love to hear what the BP community thinks about this.  

[Garett Weber]

@Cody Petersen is a young and hungry agent who communicates well and can help out with timely comps as well as sharing some good resources. 

Representing you on both sides of the sale seems fine in my opinion as far as compensation. Plenty of investors that will help you with your first flip without you needing to give up 25% of the profits. If you have trouble finding those to help out-- shoot me a DM and I'll pass along some contacts. 

Best of luck!