Working with Investors as partners - Posted by Tom B.


#1

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.


#2

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!!!