Flip partnerships - what structure?

[Tom Camarda]

HI All,

I may be partnering with someone on a SFR fix n flip. Whats the best way to structure this? I would be putting up 50% of the funds needed to buy and rehab. Guessing we should start an LLC and do 50/50 membership ?

Thanks,

Tom

[Tom Camarda]

@Jason Taken

This will be a cash close, so 1st position lien is a good suggestion. I am bringing 50% of the purchase and rehab cost in OPM. (Hard money) We have put our offer in, waiting to hear from the seller.