Please help!!!! - Posted by ct

Posted by Steve-DC on February 04, 2002 at 07:57:12:


If you’re talking about presenting a business plan, there are lots of general sites on the internet that will give you a basic outline of what to present to potential investors.

For a real estate specific example, Kevin Myers’ “Buy It, Fix It, Sell It, Profit!” (the book’s at home, I don’t remember the exact title) gives a good overview/business plan for the different steps of buying a property wholesale, fixing it up, and selling it retail. You could probably borrow and tailor the section on buying wholesale for your own use.

I don’t know if I’d agree to a 70-30 split. What is your partner bringing to the table? If it’s just money and no transactional knowledge, in my mind it should be 50-50. The two components are equal in that you need both to do a deal.

People sometimes play up the role of the money…in my opinion, the money is easier to find than the transactional knowledge, buyers list, etc.

Just my opinion, hope this helps,


Please help!!! - Posted by ct

Posted by ct on February 03, 2002 at 15:22:59:

I’ve got a potential money partner who has agreed to meet with me to discuss helping me buy the houses I’m getting all these calls on.He’s also agree on a 70-30 split of the profits.I’m wanting to give this guy something in writing-maybe an outline rather than just tell him we buy for 50,000 put 10,000 in repairs and you get 12,000,if we don’t use a re agent.Please help if you can!!!BTW I’m only using a partner for now until I get some credit issues taken care of.Until then i’m just flipping!!!thanks in advance,if you make me a decent outline or even if you try, I’ll buy you an adult beverage at the convention or a soda whichever you prefer.