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Updated over 6 years ago on . Most recent reply

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Matylda Lis
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Business plan template

Matylda Lis
Posted

Hello BP community! 

I am a Canadian that got the real estate investing bug fever over the last couple of months. I would like to get a first deal moving foward in the coming fall witch gives me 6 months to get organise and ready for such an endeavor. I am currently researching for a free online real estate partnership contract template. Any lead on the subject will be gladly appreciated.

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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

I'm very sorry.  I hate to burst your bubble, but...fair warning, I'm approaching you with a very sharp object.

1 - Your priorities are skewed

2 - Setting an ultimatum of "6 months" to get your first deal, can only lead to trouble...and result in you taking the best deal (even if it's a bad deal) you come across during that time period in order to make your "deadline".  Don't make a deadline timewise for your first deal.

3 - You can't use a shortcut (partnership template) to for a partnership.  Before you even think of forming one, you need to know why you're forming it.  Why are you forming it?

4 - At no time in the above post did you mention anything at all about the following 2 very important prerequisites to moving forward - 

     a - Your goals (financial)

     b - Your current knowledge base

5 - ...I guess that's enough for now...but there are more items...I just choose not to mention them at this time since the above list makes the rest of them a moot point.

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