I am raising private money for a BRRRR strategy

[Hans Re]

Hello BP community!

After a couple of wholesale deals, partnering up in a couple of other deals, and my first fix and flip property coming on the market next week, I am going to take the next step: start building my portfolio using the BRRRR strategy!!!

I have about $65,000 available, and could be able to bring another $50,000+ in the next month, by inviting people to partner up with me in my next deal. I have a couple of hard money lenders to work with, they give me 80% of the purchase price. In my market, average distressed property is in the $250,000 area, with an average of $35-40,000 rehab cost. 

If after getting the deal, takes around a month for rehab, plus 3 months for seasoning, I am rounding up about 6 months before re finance the property. How do I structure the deal with the partners in the deal? Do I offer 10% annually or is it better to do it for 6 months? If its for 6, I don't want to be in a position where I could not have the financing yet. Maybe adding a monthly penalty? Ideas please, I am getting with them  next week. 

Thanks in advance, if you guys have any other ideas that I don't considered, please tell me. One last note, I'm hooked with the 2 latest books from the BP community, the negotiations book and the BRRRR strategy! Keep up the good work!