Partnering with land owner to build a house

[Rao V.]

Hi,

I know some body who owns a lot worth about 100k. I am considering building a new house on this lot. He likes the idea but all he has to offer is the land and nothing else. He does not have the money towards any construction related cost but he agrees to take the payment of his land once the house is sold. so in essence I am borrowing 100k from him for 6-8 months.

Can someone more experience suggest how I structure this kind of deal? 

[Rao V.]

To clarify the house will cost minimum 200k and I will bear the cost. If you look at it, essentially the land owner is financing the land for 6-10 months and he is expecting more than 100k when he gets paid. How much more should I offer. Outside of this deal he can easily sell the land for 100k, his interest in this deal is the fact that he can get more than 100k. 

Please advise.