Has Anyone Tried This Strategy?

[Andrew Gavre]

I am targeting homeowners with dilapidated homes that need repair and offering to pay for the rehab and split the profits with them at the end of the project after the sale of the home.

Any idea what this would be called and how to structure it legally? I obviously would want to have control over the property and maybe a pre-determined purchase price?

Thanks in Advance!

[Greg Scott]

With this approach, you are essentially taking on a distressed homeowner as a business partner.  If you have any disagreement with your new business partner, they are in the driver's seat because they are the OWNER and it is their HOME.