All Forum Posts by: Sharon S.

Hi Christopher B- Did the GC that partnered with your friend have skin in the game or did they do the work at cost? 

What was their profit split? 

Thank you- Sharon

I agree. I have seen it time and time again. The GC is not going to pass up starting a new job while they are finishing up yours. That is why I think it's important to incentivize the GC and partner with him/her to get in and out quickly. 

I am not endorsing a 50/50 split because I dont see that been equitable. Perhaps an 80/20 split and the GC provides labor at cost. 

Nothing comes easy especially dealing with construction but this has been a dream of mine for sone time now. 

Thank you again for your input.

Sharon

Hi Will- Thank you for your input and responding to my post. Really good advice and something that I also feel is very important. As you you know yourself developing and enforcing good habits of communication as you wrote are going to be essential to your success. Have you yourself been involved with similar projects as a RE Broker? 

Regarding this new partnership If I am understanding you correctly your opinion is that even though the GC is not investing capital it is not unreasonable that he/she be entitled to a 50/50 split? 

I had similar reservations that my sub has not officially managed and quarterbacked the job as the GC. I will add that I have worked alongside him for other clients since 2015 and I am very impressed with how vast his knowledge is about the construction process, his attention to detail, his professionalism in dealing with me, his thick skin, network of trades and ambition. For those reasons I am very enthusiastic about this opportunity.

Thank you again,

Sharon

I am an interior designer who has had the opportunity to work with a sub contractor on 4 consecutive remodels for various clients. Recently this sub approached me to see if I would be interested in flipping homes with him. We have a decent track record and the homes that we have worked on together have turned out beautifully. He is a master carpenter that fully understands the construction process. We work really well together and he shares my desire for perfection. He is trying to branch out and take on the role of GC. He has a very good rapport with the other sub contractors and is a really hard worker. He does not have the money to put down on a flip but I do. What do you think would be a fair opportunity for us both? I will purchase the home and material. I will also develop the design concept and provide drawings and he will manage the labor and trades. I welcome all and any feedback. Thank you so very much- Sharon