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Updated 6 months ago on . Most recent reply
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RE agent/LLC FLIP PARTNER commission contribution
We formed an LLC to flip houses - Partnership is 50/50. Partner #1 funds 100% guarantees loans and handles all the bookkeeping. Partner #2 married couple: W is the buying selling RE agent on every house in LLC and Husband oversees contractor/project. We talk daily and make big decisions together...
Note: LLC has bought/sold $12 million over the last year with and made a profit of 650,000 (without any of the partners RE commission contributed to the profits)
Going forward Partner #1 wants the RE commission to be included in the profits - less a flat fee to her. We would really appreciate some ideas on how to structure!!