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First partnership on rehab "Any Advice"

  •  03-22-2007, 4:42 PM

    First partnership on rehab "Any Advice"

    My husband and I are partnering up with a friend on a rehab. He will provide the financing. My Husband and I will provide the first 5,000 torwards rehab materials and will be responsible for all labor. We have completely remodeled our current home, which had absolutely no value when purchasing the land. I also am a Realtor and have researched the property and know there is alot of equity to be gained. My questions are how should we split with our partner, so that all parties are treated fairly. The partner will be responsible for the purchase of the condo, closing costs, all holding costs, and approximately 10,000 to 15,000 in rehab costs. Any advice or suggestions from anyone with some experience would be greatly appreciated. I want to be sure that all parties walk away from this completely satisfied!
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