Partnership in Flipping

[Allen Holmes]

I have a friend I am partnering with to flip some houses. I'm bringing money to the table. He is a contractor and is bringing time and expertise of handling the rehab. We plan to start with splitting profits 50/50. I have a real estate LLC and we don't want to start an LLC together at this point so we can go at it 1 deal at at time. We are trying to figure out terms to put in a partnership agreement between us. Any guidance would be helpful? Thanks in advance. - AJH