3 Pts Off The Top Reasonable For Financing a Flip?

[Paul Jamgotch]

Hi all. I'm getting ready to bid on a foreclosure. This will be my first flip. I am working with a broker/builder who has put together an 'at cost' rehab estimate which I feel might be a tad high for a basic paint/ floorcoverings/ windows project (he is not doing the work). He will also list the home once done (I assume he will keep only 2% of the 6% listing). I am financing the purchase, rehab, and carry. Is it reasonable to ask for 3 pts off the top before splitting the rest of net proceeds 50/50? It looks like this: $22K purchase. $18K rehab estimate. $5K closings and carry. ARV is $70K per partner.

Am I simply being to cheap? My concern is that we are running into the cold months and ARV turns out to be $55-65K rather than his $70K estimate. I want to make sure my risk is taken into consideration and I net as close to $10K as I can. Thanks for reading.