Buy and flip, partnership flip

[Daniel P.]

I was offered an opportunity to partner with an investor who purchased a single family home and would like to flip:

The investor:

Real estate agent

Purchased home for 230k has put down 20% and financed the rest, as well paid for all

Associated closing costs.

Myself:

Own a family ran commercial construction company and have a strong backing In residential renovation as well.

The deal offer: invested holds the cost of the property, and carrying costs I.E. mortgage, utilities, and taxes.

I cover all labor and material costs for the renovation,

After sale we get all real dollars spent reimbursed, so house purchase price and carry costs for investor, and material and sub contractor labor for me.

Then remaining profit we split 60% for investor and 40% for me.

Does this sound like like a a good deal for me? Or would a be better off working as a contractor and getting my money guaranteed.

I would estimate 30k in real costs for me and maybe a sale price of around 350-360k