Is having multiple people on your flipping team a thing?

[Duane Henry]

Hey guys, so I was wondering, is there a name for when about 4 or 5 people pool their money for a flip, work on it together, then split the profit? Also, would it be a good idea?

I know that with more people, there’s more buying power, but I really don’t know if it would be a wise step to take. A few acquaintances and I were playing with the idea, but I wanted to get some advice from some experienced people about this before moving forward.

[Lynnette E.]

The more people you bring in the more opinions you will have.  Often someone will want to upgrade things to a much higher level than other people.  Also some will work hard and some will hardly work.

Make sure you know these folks well and know what budget, goals, and skills you are dealing with, and expect lots of conflict and to split whatever profits or losses the project may provide.