partnering with a GC

[Sharon S.]

I am an interior designer who has had the opportunity to work with a sub contractor on 4 consecutive remodels for various clients. Recently this sub approached me to see if I would be interested in flipping homes with him. We have a decent track record and the homes that we have worked on together have turned out beautifully. He is a master carpenter that fully understands the construction process. We work really well together and he shares my desire for perfection. He is trying to branch out and take on the role of GC. He has a very good rapport with the other sub contractors and is a really hard worker. He does not have the money to put down on a flip but I do. What do you think would be a fair opportunity for us both? I will purchase the home and material. I will also develop the design concept and provide drawings and he will manage the labor and trades. I welcome all and any feedback. Thank you so very much- Sharon 

[Will Fraser]

Hi @Sharon S.,welcome to the Biggerpockets forums!  This is an exciting tag-team you've got going on here! 

There is a similar duo in my market that I've gotten to work alongside a few times and the arrangement I see with them is that the GC does everything at cost and the partners share the profits (50/50 for them, but whatever makes sense for you guys consider risk exposure and buy-in).

A word of caution . . . as I'm sure you know trim carpentry (and any subcontracting trade) IS NOT general contracting and effective labor management.  There almost certainly will be a learning curve here as he steps into the GC role.  Find and maintain healthy habits of communication so that you can both navigate that growth curve well, and let that be a boon to your relationship and not a bust.