Profits Distributions Advice

[William Parker]

Hello, 

My best friend and I are going into business together to start our real estate investing journey fixing & flipping properties, as well as other investment matters. We're creating our operating agreement, and need advice on how to set up our profit distributions after covering all overhead costs. Any amazing advice is greatly appreciated!

What profit percentage split do we pay ourselves after each sale?

What percentage of profits do we put aside to reinvest back into our company?

What percentage do we save in our emergency reserves?

What percentage do we save for our tax liabilities?

What percentage do we save for over-budget construction costs?

How often should we pay ourselves?

Do we pay ourselves the remaining profits at the end of the year?