Deal Structuring: Joint Venture Partner vs. Private Money Lender

[John Lyszczyk]

I am curious how some of the more experienced Flippers/Rehabbers structure their JV deals? The obvious one is where everything is split down the middle, but what if I don't have any money and someone wants to invest with me. Is it better to just have them as a private money lender? Or are there benefits to doing a partnership and have them act as the "money guy" and I take on the GC role?

I'm forming great relationships with a steadily growing list of private money lenders. I just did my first deal with a private money lender, and I'd like to continue to fund deals this way as I see great opportunity in this. However, I'm interested in hearing if anyone prefers going the JV route as opposed to just using someone as a private lender?