Investing with a friend

[Jan Styrczula]

My buddy just approached me with an offer to invest with him in buying foreclosures, he is a GC and he has done house flipping before, he wants me to invest 30K-50K of my own money and use it to get a 6 month rehab loan from a hard money lender at a little over 11% interest, after the House was finished we would split 50/50, he would also add me to his LLC that we would use for that future buy, the reason I’m thinking about investing Is bc I own my own business which will bring 200K this year in gross profits, the down side of my business is that I work 12 hour a day 5 days a week, and I feel that I’m slowly burning out. What do I need to do to prepare before I invest with him?