Joint venture with seller to fix/flip

[Samuel Beshara]

Hey Guys,

I know some people have discussed this before and didn’t really get a clear or positive answer.

I wanted to get more information on if I were to structure a deal where the seller keeps paying for the ongoing costs, I fund and complete the rehab, then we sell and workout a percentage of profits.

They talk about this and specifically with Jared Holland on episode 341. He calls them “free houses”.

How are these deals specifically structured? Does anyone have an example on what it looks like? For example, do I go on the deed for the house, how am I protected if something happens, etc.

Positives: don’t waste time and money closing on house twice. If I can only afford to do renovations and not the acquisition. Since owner still owns house, demo can start next day.

Thanks!

-Sam