Partnering on a flip

[Cristina Alicea]

I primarily have experience in buy and hold real estate and feel this is my comfort zone.

I have a friend who is a contractor who has expressed interest in partnering on a flip.

I don’t have any experience flipping and I am uncertain if I want to wade into those waters, especially since I don’t have enough knowledge about the nuances of how these deals work to make an informed decision yet.

That’s why I’m reaching out to all of you.

Have you ever partnered on a deal with a contractor before? If so, how did you split the costs and the income afterwards? Did the contractor get paid for their time rehabbing or was this a part of the partnership?

If anyone has an information to share on structuring a partnership of this kind, I would be most grateful.