Partner in the Knoxville Area

[Anthony Knobbe]

Looking for A 50/50 partner, for flipping homes in the Knoxville area, must be able to finance, half of all costs. Looking to start Shortly after the new year.

[Victor Jernigan]

@Anthony Knobbe You can certainly find many active investors to speak with at the Knoxville Real Estate Investors - KnoxREIA - meetings. The topic of how to structure joint ventures and partnerships is a frequent point of conversation. The concept of 50/50 partners is an interesting idea, but issues such as:

Who provides construction labor and/or management? What is that worth? Will there be bank debt? If so, how is it guaranteed? Who makes construction/marketing decisions? What happens if it doesn't sell? How to fund cost over-runs?

are just a few of the details to resolve.

Your sales price idea is in the sweet spot of housing but deciding what to buy, where to buy and what to pay opens up even more questions.

Happy Investing

Victor