Investors want in??

[David Moreno]

Posting this again hopefully I can get some help this time.

So Im a realtor/investor and have done a few deals already in the past already and currently work at a real estate fund where I am getting PLENTY of experience.

Now here comes my issue I have 2-3 clients/ family friends that want to partner with me, they would put all the capital required to do a flip. My job would be finding the deals and everything else to from dealing with contractors, and of course getting it sold. I have spoken with a good buddy of mine which is also my Preferred lender when I sell my personal flips to bring him in on this as I still work a 9-5 but he clearly is more flexible with his time.

My question is how do I structure this? with an operating agreement? I was thinking doing a promissory note which could work for now but eventually I would like to have more 'Funding partners'

Also I'm thinking proposing they put 100% of the cash, I put knowledge and skills and my time I would not charge anything to list and market the property and we go 50/50 on the NET profit. What do you guys think about my terms and how should I structure this?

-Dave