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Updated almost 8 years ago on . Most recent reply

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7
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Nick Bosco
  • Pittsburgh, PA
0
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7
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Need advice structuring a flip with an investor

Nick Bosco
  • Pittsburgh, PA
Posted

Hello guys, I've been lurking around for a while and appreciate all the input and advice you guys give so I'm bringing this question in hopes to structure my next business venture. 

I started an llc a couple years ago to flip homes, and ive done two properties so far, one with hard money, and one with private. 

Thelatest deal with private money was structured in such a way that the investor giving half the money, would receive half of the profits. The deal was made under the understanding that he would carry half of the workload as well. Unfortunately this hasn't been the case, and we are trying to structure our next where he is just the banker, and would receive a certain percentage. 

This is where I'm needing some help, I want to just use him as a banker, and I want to manage the project with my guys and just have him loan out the money. Is there a certain way I should structure this deal? 

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