Owner Partner Flip? Anyone doing this?

[Gregory J.]

I call it the OP FLIP. no clue if this already has a better name. I'm the project manager and the owner is the boss. I'll do everything it takes to take the property up to its highest and best value. I'll develop the scope of work, hire the contractors, and handle the details. Owner holds title (they already do) and pays rehab costs. Target is to get a time capsule house up to full ARV and work with the owner to sell it. In exchange I'm looking for a reasonable fee compared with the value I add.

Has anyone done a deal like this, or otherwise what are your thoughts? Risks?

Her are some situations where I feel like this meets an unmet need:

1. sellers who are savvy about money and in high end markets. They aren't selling to Ug but they don't have the time to manage a rehab. I partner with them to get the highest and best price for their house and I get a reasonable percentage.

2. partner with wholesalers. have them send me deals that don't work for them, because the sellers need isn't cash fast. I can work with them to get the most out of their property.

3. other ideas?

Any feedback is appreciated. Are you a wholesaler who would like this as an option? Are you a seasoned investor who thinks I'm going to screw this up, get sued by the owner and lose everything? Don't hesitate to tell me how I can screw this up, that will help me build a plan.

Greg