Investment Broker As Flipping Partner

[John Stricker]

Hey

There are 3 of us total who are going to equally put in the cash to purchase and rehab a property. Then split the profits evenly.

We are all friends and 1 is a Real Estate Broker.

The broker has no problem waiving his fees when we sell but thinks he should get his commission when we buy a place.

Now the other 2 guys will be in charge of getting contractors to get the rehab complete.

I feel that the commission should be used towards the rehab but also see his point.

Would like to know your thoughts on this?

Thanks