Hi Everyone,
I recently started syndicating deals with a group of investors on a single property. We are buying distressed properties for the purpose of fix and flip. We are looking for a guideline basis template of a Syndication Partnership Contract where the following is defined at the minimum;
The Partnership: (names of parties involved)
Contributions: (the parties name and what they are contributing to the project)
Profits/Splits: When and if the rehab project is complete and profits are made they will be distributed at an X percentage to each X member (listed out per partner)
Accounting/Taxes: Each member assumes capital gains tax and will be provided a W-9 from the contractor and must submit their own taxes.
Property Maintenance and Unforeseen Costs: Monthly holding costs consists of all utilities costs such as electricity bill, natural gas, water, and garbage/sewer/recycling.
Disclaimer: All parties assume loss on their own behalf, no parties are responsible for any other parties loss. No profits are guaranteed. Each party has agreed to preform their own research per signing this contract and project kickoff.
From the requirements this definitely seems like a custom-made contract. If any members have a similar contract that we can use as a baseline we would gladly appreciate the help.
Thanks in advance!
