Private Investor Terms

[Drew Gilmore]

Hi all, 

This is my first post on here--thanks in advance for going easy on me. 

I'm curious to get feedback on terms for private investors. I recently met with a prospective investor who was interested in partnering with me on flipping a house in the suburban San Diego area. He's willing to finance a good deal if I can find one and he wants the following: 8% return on his investment, 60/40 split of all profit thereafter. (I would be responsible for overseeing the rehab). This would serve to get some cash in my pocket as well as establish a working relationship with this guy. 

I'm wondering if anyone has encountered something similar? Are these good terms? Any feedback would be helpful.