Looking for a JV Partner for flipping

[Drew Leonard]

I'm an investor focusing on value-add multifamily (out of state), but I'm also a licensed GC performing residential interior remodeling work. I'm starting to evaluate flips but am looking for a JV partner to fund them in order to eliminate the interest carrying costs. Does anyone have advice on how to find such a partner or have interest in pursuing a JV arrangement? And what do JV partners typically expect for a percentage return?

Thanks,

Drew

[J Scott]

I would start by attending any local meetup or REIA groups in your area. This is where you're going to meet other residential investors and those with cash looking to partner.

In terms of split, it's fairly common for the money to command 50% of the deal and the effort to command the other 50%.  So, if you do 100% of the work and someone else puts in 100% of the money, a 50/50 split is relatively common.  That said, anything can be negotiated as long as both sides agree.