Setting up a house building business with a partner !!!!?

I starting a business with a partner that i just meet...


He has the building license and i have the funds and the land.


The question is how to set it up so that when i get comtumer he can't leave and build there house and cut me out?





I know how to set up a business, that's not what i'm asking.


The question calls for being creative when setting up the business.. LET ME KNOW WHAT YOU THINK.





P.S. If they is anybody out they that has a building contractor license, and will like to help a young entrepreneur, i'll be very greatfull. ThanksSetting up a house building business with a partner !!!!?
Without knowing your location, it would be hard to judge... What is the housing market doing where you are at? If there are a lot of empty, new houses (like here) building isn't such a great idea... Also, you're providing the land AND the cash vs. his experience... what kind of a percentage of the net is he expecting? Are you expected to pay him a wage while he's working? What amount of your financial investment is he expecting to pay other workers?


Check with local builders and find out what they would charge you to build on your lot and weigh it against what it will cost with this partner... Agree ahead of time on what features/materials will be used, a time frame for completion... over budget should come directly out of his cut of the action, and DON'T let him cut corners...


I think you're probably going to take it in the shorts on this deal, but... Best of luck!