Partnering with someone else's Self-Directed IRA

[Jeremy Rotert]

Greetings All!

I am working with a former client for whom I assisted as their Realtor, selling a rental property for them while they live out of state.  This client was very pleased with my assistance, and has now expressed an interest in allowing me to utilize their SDIRA in some flipping projects.

I am an avid wholesaler, and flip when the deals are right for me. But, I've never partnered with an SDIRA before. Can any of you help me with examples of an agreement or contract specific for this purpose? What does an agreement look like for JV flip projects? Is it a better option to have an agreement for an interest percentage instead of a JV split of profits in this scenario?