How to Structure the next deal/partnership?

[Maxine McClinton]

Hello All:

I began flipping houses last year and currently am on my second flip in the New Jersey area. Besides the cost of the home, the next biggest expense is the renovation/construction costs. I have been able to manage that expense mostly with credit but have struggled with cash. I have offered an opportunity from one of our contractors who wants to do business with me. He has suggested that if I buy the houses, he will manage the construction and cover those costs. Sounds like a great partnership that can potentially grow my business and put money in both of our pockets.

But how do I structure the deals? Any suggestions? Anyone have experience with this?