I am often approached by friends, co-workers and even just acquaintances about going into a partnership to do business together, most than anything else, people want to do a flip. They want quick cash, they imagine easy like the TV shows. But most times, they want to do a flip because they don’t have the capital to get started and I so much want to help them, especially if they are friends who are looking to get out of a hole. But my question is, how do I help them? They have no capital nor credit. They can do labor, which is needed, but how can I structure a partnership like that? Logic tells me don’t. Logic tells me, help by hiring them to do labor, but I wonder…has anyone structure something like this as a partnership before? If so, how? What percentage?
