Rehab experts needed - Posted by Brad (GA)

Posted by Mark on November 07, 2000 at 24:30:15:

There really isn’t a template for partnerships. Each deal is going to be different and how much each person gets should be based on what each person brings to the deal. Some of the areas to consider are:
Who finds the deals?
Who funds the purchase of the property?
Who funds the repairs?
Who does the repairs?
From your post, it sounds like you will find the deals, fund the purchase and the repairs, and you will do the minor repairs. The contractor partner will handle large repairs. If this is the case, why do you need him? Consider just hiring a contractor for the deals in which you need a contractor. Why pay him part of the profits? Although partnerships can be good, if you can do deals on your own without a partnership, you are much better off.
Good Luck

Rehab experts needed - Posted by Brad (GA)

Posted by Brad (GA) on November 06, 2000 at 08:50:01:

I am a rehabber that has an opportunity to partner with a general contractor. I am wondering if there are any investors out there who have partnered with a GE. If so, what type of agreement (50/50), ups / downs, pros / cons, experiences?

I am not too familiar with partnerships, so I’m asking for a template of sorts; ideas for figuring out how much and who gets the responsibility. I will fund and supervise the work sites. He will supervise work sites also. I can do general repairs. He can do major, structural repairs.

I’m hoping to build a business that can handle many rehabs per year (30 plus).

Does anyone have any experience with this?