Equity Share Agreement

[Lamont Chestnut]

I've been learning about flipping houses for the last six months and I'm finally ready to get started. I've been an IT and Construction project manager for years so I've put together a really good team consisting of multiple general contractors, real estate agents, social media consultant, wholesalers and a local design firm to complete our home layout and design elements. Since I don't have sufficient cash reserves, I plan to approach private lenders this week and offer a 50/50 equity share for my first 4 or 5 flips. What type of document is used to capture the agreed upon equity share? What are some recommended clauses I should consider to protect my interest?