OfflineI was approached by an aquaintance about investing in real estate. She had no idea that I was involved at all,or trying to be involved. I do remodeling and had done a little work for her in the past and she aked if I ever thought about doing a flip. She has quite a bit of money and really wants to get into real estate and would like me to be the contractor and she be the money person. She will back the projects 100%.
I need to talk with her about the details, I was thinking about a 50/50 split with the profits and creating some form of document for us to sign.
Does anyone have any suggestions or advice on moving forward?.
Thansk alot, James
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What type of deals are you going to do??
Donald Myers
I would find a property and work out the details while actually working a deal. What you are talking about (50/50) is called an equity split. The paperwork between you and your money person is really quite simple. Find a deal that will work, then worry about the details as you go.
Just my advise. Having no deal is a lot of theory otherwise.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
thanks alot
James