Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

7
Posts
0
Votes
Narr Sunkara
0
Votes |
7
Posts

Partnering/ Flipping Question

Narr Sunkara
Posted

Partnering/ Flipping Question:Believe me, I tried to make this post shorter, I appreciate you reading.First Flip for me. 

I'm partnering with 2 others who has more than 10 years of experience with Flipping.

Deal is laid out as below:Partner 1 - Found the property for 10K, ARV is about 120K. Has a crew who can do the flip but not using for this flip.

Partner -2 - Has a Crew and paid 50% (5K) on the property and is named on the deed with Partner1. ( been in partnership with 1 for sometime)

partner -3 -Myself - Has no experience with Flipping and is asked to invest about 45K in rehab costs. In return, I will be managing and releasing my own funds and be a project manager to observe and learn flipping. (I asked to be part of the observation and to closely monitor the process)

Now, I will be putting in a Mechanics lien on the property to get my rehab funds 45k back + I have been offered to take the 25% of the gross profits after the sale which I agreed because I'm gaining knowledge of the whole process and be directly looking into each detail of the project.


What do you think of this agreement? Is this fair? would you suggest anything differently?