So at this point I ask: what contract would you have with such builder?The structure is probably that I could invite a builder or DIYer to join me on a 50%/50% split where we both do the work together but I put in all the money because he is putting in his years of knowledge and experience that I've not got. So he's got the knowledge and I've got the money but we still do a 50%/50% profit share split or something along those lines
I've got accounts with banks who will lend me short term finance on houses with not so much deposit. So I could buy two fixer upers for about £150k with only about £50k in cash and if I split that with someone then it's only 25K each. One of the reasons of using these smaller houses was so that I could "toe dip" and start small before growing. The idea is then as "John" said about having continuity of work we'd get self employed trades working with us as they know we've always got two or three houses on the go at any one time. The plan is to evolve from £75K purchased houses to £300k - £500k purchased properties and the small cheap ones are the "starting smal"
The same deal can be with a third person buying the property but being an armchair investor and we do the work but we also get 2/3rds of the profit. I find it easy to find people to work with because I'm honest and there's no flannel.
It's win win because everybody is taking a little bit of a risk. The investor is buying a house but isn't paying builders to fix it up so that's risk mitigation right there, me and the builder are only risking our labour so worst thing we end up working for nothing which isn't really likely but it means we won't loose money so even in the worst possible situation nobody is likely to actually loose pound notes and the balance of probability is that we all make money although splitting profit between three people is not really that enticing as the profit pot has to then be split
Would you let them have their name on the deeds?
I thought not, otherwise they could simply do nothing and ask for their share when you sell.
Are you a limited company buying corporate?
If so, anyone with a little brain will not come near you.
So this leaves one possibility, a charge on the property which will avoid both parties disappear with the money.
But... are you prepared to pay 50% of your profit to a "dumbass" builder?