Partnership in flipping houses

[Andy Ramdeen]

Hi everyone , I was thinking about partnering with someone to buy and flip houses , I would to go this route because I have limited money that I can put to a house and rehab. I was wondering if anyone in the NYC/Tristate Area has done this ? Also what do you guys think about this ? And how should deals like this be split between either two people or a group of people ? Please let me know your opinion on this . And let me know if there’s anyone that would be willing to do this with me .

[Anthony Dadlani]

This is a great idea and done many times. Multiple ways to do this. We have been successful with joint ventures, whereby both parties invest a portion of the funds and share the profits. Other times we have invested the full amount and profit shared with the project manager.( of course a lesser portion). Typically we have felt more comfortable investing the full amount with someone who could demonstrate a track record. 

You are on the right track. If you don’t have the capital but willing to work and find deals as well as project manage, find someone who does have the money and partner. 
 

Best of luck in all your endeavors.