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Updated about 9 years ago,

User Stats

3
Posts
0
Votes
Darya Attar
  • Investor
  • Los Angeles, CA
0
Votes |
3
Posts

Flip partnership with contrator

Darya Attar
  • Investor
  • Los Angeles, CA
Posted

so I want to flip with my contractor I have some questions

I will buy house in my name all cash with my money

Contractor and i split profit in eventual sale of house Fifty/fifty

He invests his time and work 

I invest money

Questions: do I get interest fir use of my capital at lets say 3 or 4 percent for the time of construction? what portion on my money on the house money or the remodel money?

Can he get a license and be my listing agent when we sell and make 3 percent on sale price? We are in California 

Can I lease the house after fix up and then get 1031 in the sale ? While we rent I give contractor ten percent of rent

What should be the legal structure

What is the tax treatment of the gain to contractor

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