I've got a question for you guys that have been there....
I've got some clients that want to invest some money and do some high dollar flips in a vacatation/tourist area. Our market is homes that are near beachfront and will sell in the $500 to $750 range when finished with $70k or more is work added.
When dealing with people that are nothing more than an influx of money, what kind of a cut could I ask for and expect to get. Naturally, I'll get paid as a contractor for the work I do in the house, but I want more than that. I want a percentage of the net, otherwise it isn't worth my trouble to work an hour and a half away from home and I'll be doing all the leg work with the realtors and new owners etc. The investors probably won't even see the houses but a couple of times.
Has anybody had a situation like this before?
I've got some clients that want to invest some money and do some high dollar flips in a vacatation/tourist area. Our market is homes that are near beachfront and will sell in the $500 to $750 range when finished with $70k or more is work added.
When dealing with people that are nothing more than an influx of money, what kind of a cut could I ask for and expect to get. Naturally, I'll get paid as a contractor for the work I do in the house, but I want more than that. I want a percentage of the net, otherwise it isn't worth my trouble to work an hour and a half away from home and I'll be doing all the leg work with the realtors and new owners etc. The investors probably won't even see the houses but a couple of times.
Has anybody had a situation like this before?