Flipping house business

[Freddy Alban]

Hello,

I would like to start flipping houses as a family business. We want everything to be in writing to avoid confusion. I am a realtor and would be investing and listing the properties, my dad is a handy man that will also invest and will oversee the rehab process. We have a cousin that is an electrician and has reserves to buy and rehab properties.

How would I set it up to where I get paid regular listing commission, my dad would get paid for his labor like updating the kitchen bathroom or floor.( we would hire a GC for the heavy lifting) and the same with the cousin if electrical work is needed.

Any advise would be greatly appreciated.

Thanks!

[Philip Coiro]

@Freddy Alban

Too many partners. You’ll be better off just paying them for their labor and paying them interest on any money they put in.