Buying Cash with someone else's money

I have a guy who has almost $500k cash that I am trying to get as a hard money lender so I can buy properties and turn around and sell them. My question is what is the best way to pay him for his money? I have heard spliting profits, a % of the profits, a % of the money borrowed, any other ideas? Has anyone had good luck doing one of these or something else?

1st question is will he do any of them ?? my question to you is have you flipped a house for a profit before ?? if you have you should have your own answer to that question.

Use him as a private lender or “cash partner”. I the first case you should guarantee a return percentage that is well beyond banks and in relatively short period of time. If you use him as a cash investor then split the profits.

Like Love2Invest said, make sure you know what you are doing when you bring on somebody else’s hard earned money.