No matter what you do you need to know your partners well. Make sure that they understand completely when they wil recieve their portion of the profit.
All arrangements I believe should be in writing. This helps you protect yourself from lawsuits and the like. These guys had an issue, I am glad its not me. Beware of the language contained in this video.
This video seems a little weird to me. I was expecting violence the way they were talking. House Flipping is a for profit business and you can understand that all of the money is being invested into preparing the home for sale.
People do however run into financial situations that demand money now. No one who decides to start house flipping should quit their day job until you gain a profit.
12-17-2008, 01:55 AM
Partnership issues.
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