err this guy wants his cake and eat it too.... it seems all he will be doing is GC.... which unless he is the best contractor ever, doesnt mean much... i mean you even said he is slow to work sometimes. which is not good at all.tell him is he is serious he should put his own money in, if he cant, then have him bring you deals. if he can bring you good deals than use your cash to finance the deal, pay for materials only and when the house sells give him 30% after splitting all the rehab costs with him. i havent done my first deal yet. but i have been burned in the past with partners with no equity. my suggestion is to stay away, unless he does truly bring you some good deals. then work with him. he needs you to fund the deal as much as you need him to get the house ready.

We are building medical in other parts of the market which are taking off like hot cakes but not into the residential market so much in Austin.

You'll have to sacrifice risk or profit... can't have your cake and eat it too.

Not that it matters, no agent is going to take a property off the market without you signing a contract and presumably providing some amount of earnest money.It sounds to me like you're trying to "have your cake and eat it to."

Well...I have come across a few crass ones in my dealings as an agent, but that certainly takes the cake.

Also, a cherry on a cake such as appreciation, and Amortization to pay down the loan and create equity.

(disclosure) I'm also 'licensed' but this guy sounds like he 'takes the cake and eats it to'

You get to have the cake and eat it too.

Based on what I'm learning on BP, appreciation is just icing on the cake.

Resignation letter written on cake http://finance.yahoo.com/news/man-brilliantly-quits-his-job-to-pursue-dream-job-with-resignation-letter-written-on-a-cake-194551591.html