Looking for ideas to repay private lender.

[Billy Farley]

Hello BP community!

I am looking to start a business that does flips and acquisitions of buy and holds. I am a real estate agent and I have a contractor that wants to work with me on a flip. I would like to do the first without any money if possible. 

I am thinking I can find the private money lender and offer repayment in full of his loan and then 40% of the profit of the flip. Myself and the contractor would take 30% each. I would also want to keep my sales commission and would write that in the contract. I have an LLC that I would title the property durning the flip. I will then use the private lenders money to secure a hard money loan to finance the whole deal/rehab.

Does this look sound enough to pull off? If you have anything that would be constructive, please input!