Flipping Profit Split

[Nick Parks]

Hi all,

I am going to buy a house to flip and be the one to manage the project. I will line up contractors, get bids, schedule, do small items myself and what not. I have a person who wants to lend the money for a down payment on hard money and rehab cost. If I am the deal guy, and he is the money guy, does he pay the monthly interest payments? We will be splitting the profit 50/50. I would like to hear what others have done. Thanks in advance.