Newbie over here!

[Andrea Davis-Tarantino]

My Dad and I are teaming up to start a fix flip journey together. I have a friend who is further along on the path (has done 5-6 of her own) who has offered to help as a consultant of sorts. I have also been introduced recently to a woman who is looking to be a financial partner. So hard money loan in my name, down payment and carrying costs covered by her but we still need to meet to hash out the details. Here's my question: What is a fair way for them to be compensated? Interest paid on their loan or a percentage of the profit? How is this typically handled? 

Thanks in advance for any insight!

[Jonathan Greene]

Welcome. It's great you are getting set up to start your investing journey, but I wouldn't recommend taking someone else's money on your first fix and flip. The first person as a mentor/consultant sounds great, but I would make sure you know what you are doing before you take on a financial partner. The reality is that they should not want to invest in your first flip because it's too risky if you have never done it.