This site rocks so thanks you BP and all its contributers and members.

I think that is really going to depend on what you have to offer based on purchase price, exit strategy, your contribution, JV partner contribution, time frame, comps ect.If you could give some more specifics that would help to identify what you have to offer to a partner.

Any advice is greatly appreciated and once again I would like to thank all of the people who created and contribute to this site!!

To be sure, I'm not talking about a repeat of 08-09, as the factors that caused that to occur are a long way from occuring again.I'm talking about a downturn specifically caused by factors other than those causing the 08 09 downturn.Thanks again for contributing.

This doesn't include lots which tend to contribute about $10-15 per sf to the total cost.

The five of them contribute money into the entity.

Once I hit a certain level of profit, I'd like to come up with a way to reward him for having hopefully contributed to a successful flip (bargaining with subs, looking for ways to cut costs, etc.), so my plan was to give him an increasing cut of the profit as it grows (and have it cap out at a certain point.)

Maybe even one day being able to contribute with my knowledge after I've become successful in RE investing!

I look forward to learning and contributing to the process as well.

(No mortgage brokers) The operating agreement basically "split" the returns to each individual based upon the cash contributed.