Advice needed on partnering on a flip

[Zaid Tillma]

I have one person that are interested in partnering with me to flip one specific property. If this happens, this would be my first flip.

I would be doing most of the work (getting bids, working with GC, staging etc), and want to propose a 60/40 split for a 50/50 capital investment. Do you think this is a fair deal with my partner, and is this done normally?

I would appreciate any pointers on some sample contracts that I could study to enter into with my partner. If you have any lawyers that could draw up an agreement in Atlanta, I'd be grateful for a recommendation.

I am curious - who would hold the deed? Perhaps an LLC needs to be created which will own the deed to the house, and the operating agreement would dictate how profits are shared (if any :) ).

I am newbie, and I am learning - it is possible that some of these are stupid questions.