Need validation on my financing set up.

[Samuel Lacroix]

I just want to make sure my math and thought process is right about this.

I'm currently looking into a 335k projet that need 75k (cashdown, legal fees, some repair, etc). I would buy with my father. I pour 30k cash and he provide 45k of collateral on the financing (which mean the bank finance 45k of the 67k cashdown needed, and  my dad see this 45k frozen on his mortgage credit line on his house).

Say we sell in 5 years and all in all we get out with a net 70k. 

Am I right to say that I walk out with 50k and my dad 20k? (I take my initial 30k bak and we split de diference 50/50)