Working with Investors as partners - Posted by Tom B.

Posted by Bud Branstetter on October 09, 1998 at 15:48:54:

You make sure you don’t get left out of the deal because the title is in your name. The investor is secured with a Deed of Trust/mortgage and a participatory note. I’ve done written 12 page partnership agreements but the best way to partner is the mortgage. I will do verbal partnership ventures with very few people. Even on written ones someone missed some possibility or someone feels the other party didn’t live up to something.

Working with Investors as partners - Posted by Tom B.

Posted by Tom B. on October 09, 1998 at 24:10:56:

I am buying fixers, “fixing them” and selling to build up my cash reserves. I have found an investor to work with which will allow me to buy more houses. My plan is to find the house, renovate and then sell splitting the profit 60/40. 60% to me.
Any thoughts or ideas on contract between investor and me, taxes, is 60/40 ok?, how do I make sure I don’t get left out of deal?, etc.
Any and all advice is welcome. Please feel free to go into detail.
Thanks. Have a great day!!!