All Forum Posts by: Mike Cooney

Thanks for the replies so far. Several asked for more info and here are a few more details. My friend is a very experienced remodeler and has all the crews already. He also finds the properties-as I said all I provide is the money and he does everything else. My daughter is a realtor and we will use her on all the deals. I am 56 years old so its getting harder for me to do all the work myself and it takes me 4-5 months to do a flip and its a constant battle finding decent people to do the work. My friend can be in and out of the houses in 4-5 weeks and even if I make less per house I will make more per year due to vol.

I just joined the site and have flipped a few houses on my own. I am sure my question has been asked and answered because it seems very basic but I just don't know the answer so here goes.  I have someone who wants me to invest in properties so I would buy the home to flip and it would be in my name. I would also supply all the money for materials and labor. My "partner" would have all the work done. I  would be the money guy and he is the work guy. When we sell the house I get all my money invested back (Purchase price, labor, materials and closing cost) then we split the profit 50:50. Is this the standard? Is it a good deal for me??

thanks Mike