I found a cool house that needs fixing up. I have a background in construction and i have the cash saved up to pull it off. But it is still alot of risk for me. I think i could do alot of the construction part of it on my own, but i was thinking about getting a partner to lessen the financial risk to me. If everthing turns out well and i have to give up half of my profits, its going to drive me nuts.

I think that since this is your first flip a partner is a great idea. Even though you may know about construction and do a good job fixing the place back up, you can never guarantee your home will sell for the price that you want. Depending on how well you know your market and how fast comparable homes are selling in you area a flip can be risky these days. I think you should go with a partner this time and see how it goes. If everything goes well, try it on your own next time.

what type of partner are you looking for? Do you want someone that will have an equal share in the repairs as well as the finances? or just a financial partner were you do all of the work and they take car of part of the financing

ive actually done a few deals like this. I like doing it this way because the risk to my cash is much lower. Im doing the rehabbing because that is what im good at and i can get it done pretty quick. I like having a silent partner because i dont want the other investor always second guessing what im doing. It can end up taking much longer and can really screw up a business relationship when you dont see eye to eye on how to complete a project.