Partnership Commission Splits

[Andrew Edwards]

Everyone has their opinion of partnerships.. good or bad.  My question is.. If you are going to enter into a partnership with a friend. (I have 1 flip under my belt and my friend has several.)  How are you handling commission splits?  Did I mention my friend is an agent?  

suggestions, experiences, Should of could of would of's... We will have everything figured out up front.. just want to make sure we cover everything.

We are not currently forming and LLC together.. just doing a few flips

[J Scott]

By "commission" do you mean "profit"?

If you're splitting the money, time and effort, seems reasonable to split the profits as well (including any commission your friend earns as an agent on this property).