VIC Property Flipping Contracts

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trustdeed

Member
1 September 2016
3
0
1
Need to know the best structure/agreement regarding an investor and a renovator teaming up to buy and flip property.

Currently working with an advisory firm for capital raising and the need to have this contract drawn up. Want to bring in investor(s) who will put up the funds to buy the property. I do all the work, usually only cosmetic renovations usually within 12 weeks and then the property is placed back on the market . We then split profits 50/50.

Want to know the best way to go about it i.e using trust+company+joint venture or separate contract.

I want little liability as possible. My role will be project manager sourcing materials, dealing with real estate agents and doing almost all renovation work. I am not a registered builder nor owner builder but I have had experience buying, selling managing and renovating properties without partners.

Typical example: house bought for 1 million, fully renovated, sell for 1.5 million. Profits split 50/50.

Any help greatly appreciated.
 

Matthew Karakoulakis

Well-Known Member
27 October 2016
69
13
224
Hi trustdeed,

It sounds like you have very specific requirements for your agreement which may make any standard contracts unsuitable to your needs. I would recommend getting specific legal advice to assist you in drafting up the appropriate agreement to ensure that you receive the level of liability that you are seeking.

Please feel free to contact me via the link below or at [email protected] to arrange an appointment to discuss drafting an agreement based on your specific needs. My CBD practice has vast experience in drafting tailored commercial agreements to suit individual needs.

We look forward to hearing from you.

Important disclaimer: The material contained in this publication is of a general nature only and it is not, nor is intended to be, legal advice. This publication is based on the law as it was prior to the date of your reading of it. If you wish to take any action based on the content of this publication, we recommend that you seek professional legal advice.