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 property law help greatly appreciated.
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 property law help greatly appreciated.
