I have a question about flipping houses on the side.

First let me say that I know some of you are against it from previous post on this subject, so I'm not looking for feed back on whether it's ethical or not.

I would not engage in anything that I felt was unethical and risk my reputation that I have worked extremely hard to build.

I was asked about going into business with someone (I will refer to them as the investor from here on), and flip house on the side.

First, I would locate a property and if it looked promising, I would inspect it.

Then the investor would purchase the property.

Then I would do all of the repairs and renovating that I could do, and hire out the rest. The investor would cover material and any subing out I had to hire.

The property would go on the market and if all went well, would sell at a profit. The cost of the property, material, and sub fees (not mine) would come off of the top and be paid first, then the profit would be left.

My question is how should I handle my side.

Should I get paid for inspecting the property and for my time doing the repairs, and then get a small percentage of the profits, or should I not get paid for anything and receive a little more of the profits?

Or is there another way to handle it?

I don't know what would normally be done so I thought that maybe some of you have done, seen, or heard something like this that may give me an idea of what to do.

Thanks.

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"I reject your reality and substitute my own!" - A. S.

Absolute Home Inspections, LLC