How does it work in buying a property with another investor?

[Joseph Nelson]

How exactly does it work in terms of buying a property with another investor? For example in the last two weeks I've seen two properties on the MlS that I thought would make pretty good flips and required a little bit of repairs; maybe anywhere from 10 to 20 thousand in repairs.

So if I come across a property that I possibly want to flip but I just don't have the cash to make an offer and I'm looking for a investor, how exactly does that work? Is it better to go with other investor/private lender or the hard money route?

After the house has been fixed and you put it on the market you split the profits? Is it the investor takes a certain percentage based on how much they put into it and then I take a certain percentage based on how much I pay for the repairs?

I am located in CT.