Offer % to partner? Have constr. financing&labor on 4 build&flips

[Mike Johnson]

Seeking input on what to offer partners...

We're building 3BR/2BA homes in San Antonio, TX for the sub $200K market. At this point, we are ready to start at least 4...We have the lots and construction financing in place. We're ready to pull permits and we can build...

We'd like to find JV partners that will cover closing costs for a reasonable share in profit. What would you offer someone to participate? Flat fee, percentage, something else? And would you treat them as individual JV's or as a single package?

For background - these are aprox. 1000sq ft and will retail around $120k to $125k depending on neighborhood.

[Jason Hirko]

@Mike Johnson What is the dollar amount you'll be asking them to contribute? Are they going to be a guarantor on your construction loan? Are you? What is the profit projected for the entire project? All these things factor in to the risk of your partner, and therefore how much upside you need to offer them