template for Investor on Flip

[Dane Ohlen]

I'm located in Texas and I'm wondering if anyone has a template they have used for partnering/using private money on a Flip deal. I"ve already purchased the house but I have a friend that is going to invest some money towards the rehab in return for a percentage of the profit( based on amount he puts in relative to the total project). Was hoping maybe someone had been down this road and has a template. I don't want to have to start another LLC although I know that would have been the best option if I knew in the beginning I would be bringing in an investor.

[Jeremy P.]

You can have an attorney draw up a Partnership contract. everything is negotiable as long as both Partners agree.

Check your local REIA (Real Estate Investors Association), other investors will have referrals and more info on this type of thing in your local area.