Interested in feedback on a profit sharing proposal

[Anssi Viljanen]

Hello Community, I am working with a passive equity partner who is interested in making money off my interest in flipping houses. I am still new and in need of someone who would ride shotgun with me for my first deal. Here is how I think about structuring the partnership and I would like to hear your opinions: My equity partner will receive 40% of the profits for coming up with the 20-25% required for skin-in-the-game with hard money lenders. (I came across 8%, 2 points, 80% LTV loan here in LA) I want to find an experienced flipper to ride shotgun with me to make sure im not doing something stupid. They wouldnt need to bringing in any money, just their expertise. They would receive 40% of the profits. And finally myself. I would keep 20% of the profits. Does that seem like an equitable way of sharing profits? I know my equity partner could get more somewhere else but I am family and taking a cut in profits in the beginning in order to get me up and running is an investment that in the long-term will net them a reliable, knowledgeable, lucrative partner. What are your thoughts?