Private investor question

[Mario Morales]

Hi 

im looking to getting my second property to fix and flip. Based on the success I had with my first property I flipped , I now  have a close successful friend willing to invest and becoming a private lender on my deals.   My question to everyone is how do I set it up so its a good deal for both of us ? Do house flippers normally just split the profits ? and if so how much %.  any examples that I could reference so I can get an idea 

any help will be awesome thanks! 

[Scott Wolf]

@Lori Fuqua Gregory, my first comment was "Mario, if I were a flipper I would not split the profits 50-50. If you know what you're doing, a HML will fund you all day long. You should treat your friend as a private lender with them holding first lien position.

Please read before making your first post on the site libel against everyone else.  That's not in the spirit of BP. This topic has also been posted multiple times and he could have searched himself, but people still took the time to respond.  Sorry it wasn't put in a step-by-step format that you might require.