All Forum Posts by: Drew Gilmore

@Jason D. Thanks for the response. More background: this guy is a good family friend who has a great deal of success in his own RE investing. I reached out to him for advice and he proposed this as a way for me to get started. I would have no money in this deal. 

Hi all, 

This is my first post on here--thanks in advance for going easy on me. 

I'm curious to get feedback on terms for private investors. I recently met with a prospective investor who was interested in partnering with me on flipping a house in the suburban San Diego area. He's willing to finance a good deal if I can find one and he wants the following: 8% return on his investment, 60/40 split of all profit thereafter. (I would be responsible for overseeing the rehab). This would serve to get some cash in my pocket as well as establish a working relationship with this guy. 

I'm wondering if anyone has encountered something similar? Are these good terms? Any feedback would be helpful.