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Updated about 5 years ago on . Most recent reply
Partnership - what to look out for and what’s a fair split
Hello everyone,
Looking into partnering up with a partner who can fix up a small property.
They’re putting in the sweat equity and the deal and I’ll be putting in the funding. Will get a lawyer to draft up the agreement.
Would love to hear from your experience what I should be careful of, what would be a reasonable split and etc.
Thank you BP community.
Best,
Alice
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- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Alice Huang:
Hello everyone,
Looking into partnering up with a partner who can fix up a small property.
They’re putting in the sweat equity and the deal and I’ll be putting in the funding. Will get a lawyer to draft up the agreement.
Would love to hear from your experience what I should be careful of, what would be a reasonable split and etc.
Thank you BP community.
Best,
Alice
Make sure your partner has experience and a successful track record flipping or doing renovation work before you partner. 50/50 could be a fair split if everything is as you describe.