Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

2
Posts
1
Votes
Mark Ericson
1
Votes |
2
Posts

Owner / Flipper partnership profit sharing?

Mark Ericson
Posted

I'm curious if this idea I have makes any sense whatsoever.  I'm a home owner and have some commercial real-estate.  Moving to another state, so need to move my house that needs repairs/upgrades (mostly cosmetic) but I'm not able to handle the work, or general contracting myself.

Do any real-estate investors / flippers ever partner with home owners to do the repairs and improvements? I was thinking I could keep paying the PITI, and the partner would pay for improvements, and would not have to get a loan or pay cash for the house. We would also agree to split the selling profits at closing.

Does anyone ever do that?  Does it make any sense?

The one thing that I thought maybe could be a concern is agreeing on counter-offers or selling price.   Also what would guarantee the partner would get their money out, mechanics lien?

Bottom-line, I'm looking for a creative way to get out of the house ASAP, have someone manage the repairs/improvements and selling of the house.  And receive a shared benefit from a successful flip.

Thanks!

Mark

Loading replies...