How does Partnering work? Is there a formula? Unspoken rule?

[Rosie Geller]

Since flipping my first deal I have had a lot of interest with Partnering up. Great opportunity to have more cash in hand and invest in bigger projects but is there a formula to follow? What’s a fair split? For Example, my BIL has a VA loan he can use, I have the knowledge and $ to rehab what’s a fair split for using his VA loan and how do we protect ourselves?

[Mark Cios]

@Rosie Geller Check out the show "The Deed - New Orleans" it is On Demand on Comcast. Its not your conventional house flipping show but rather a more detailed representation of most of the steps in partnering with someone to get a flip done. The host is an experienced property developer/investor and each episode they have a sit down and discuss how the profits will be divided and why. I think many people overlook the importance of the person that only provides the loan and no work. Without them, there is no flip and often times they will still provide some form of expertise in the process anyway.