Flipping with parters - how much profit should I take?

[Ford Bennett]

Hi all,

I have a couple people that are interested in doing a flip with me so I can get some funds and partner with them on long term deals. They will be bringing all the money and I will be managing the flip (they are experienced long term investors and I'm a property manager with a lot of big turnover experience). After I pay them back their original investment, how should the profits be split? 40/30/30? 60/20/20? Is there a rule of thumb for this or a standard?

Thanks!

[Mark Bosworth]

We agreed to split the profits 50/50 with our partners.  Feel free to split them any way you want as long as everyone agrees and you get it down on paper.  There is something "fair" about a 50/50 split.  Good luck!