Updated about 6 years ago on . Most recent reply
Partnership for fixer upper project
I have received an offer from fixer upper professional who is also a real estate broker to invest in one of the property.
The offer is that I will invest 100% on the project ( down payment and rehab cost etc) and he will manage the contractors and rehab work. Total rollover time to flip the property is approx four months. The profit will be 50% each.
This share percentage doesn’t look ok to me as i am investing 100% with all the risk involved and he is asking for 50% share from property proceeds for project management service only. This 50% is in addition to commission he will charge for property selling.
May I know from community around to what percentage make sense in this deal ? And what I need to know around contract terms etc.