Has anyone done partnerships for real estate investing before?

Question

Hi everyone, I'm new to real estate investing. I'm trying to finance my first property through partnerships, but I don't know how to start. I would need my partner to fund the purchase of the property and we would split the revenue 50/50. Do I need to find a real estate agent first? Do I need to find a partner first? Before moving forward, do I need to present my partner with a deal? An agent told me that she couldn't show me a list of properties before funding was secured.

Sergey A. Petrov · Answer

If you want a partner who will bring all the money to the table but you split income 50/50, what do you bring to the table? The main question is why would anyone partner with you? Where is the value in you vs me investing on my own and getting that same value from someone other than you? Once you answer that, you can narrow down the type of investment and start your search

Kerry Noble Jr · Answer

You can build a relationship with someone on the ground

Mohammed Milord · Answer

@Kerry Noble Jr What if you are an Out-of-State investor? That is the path I want to go in.

Wale Lawal · Answer

We all started from somewhere and you know yourself better than anyone else. Do some research and clearly define what you want and the best path or strategies that can get you there.

Goodluck and go make it happen

Kerry Noble Jr · Answer

What I mean is go seek off market deals yourself. Drive for Dollars......find the deals yourself and youll be direct to seller and you can control the deal

David Van Singel · Answer

You'll probably hear this a lot when starting out "it depends".

Are you looking to buy a mobile home and rent it out? Yeah, that may be possible. If you're looking to get into a multi-million dollar deal you would probably get ignored. It depends on the scope of the property or properties. Additionally, when I say "value" that can take multiple forms. If you don't have the cash available, you would want to provide some sort of other value to your partner if you want to be 50/50. I know of one youtuber, he put $0 down and is 50/50 on a mobile home park. He has the partnership but this is what people can mean when they say sweat equity. Value isn't just in cash contributed.

Mohammed Milord · Answer

@David Van Singel Hey, I have $2,000 dollars that I can put down for skin in the game. Do you think that would be enough???

David Van Singel · Answer

Partnerships are great if you're looking to get started. Many hands make light work. Many wallets can support a large deal. If you're looking to ask the partner to fund the purchase, what are you bringing to the table? A lot of people will want to see what your downside is as well. If you have no skin in the game, why would they want to trust you with their money and you reap the rewards together?

It may not hurt to find a real estate agent that you mesh well with first. You might not know someone that is looking to partner up for a deal but the agent might. The only challenge is that most agents will not work with you until you have pre-approval. It wouldn't make sense for you to fall in love with a deal if you can't pay for the deal.

It won't hurt to look for both a partner and an agent but you will want to know how you are providing them enough value to work with you.

Aj Parikh · Answer

Hi Mohammad, Partnering with someone is the best way to get started in Real estate. Large multi families are purchased most of the time with partners and syndications. Feel free to reach out and we can discuss

Mohammed Milord · Answer

@Kerry Noble Jr When you state that I should look for deals myself, what do you mean? Like look on Zillow for deals? Are you saying I shouldn't find deals with an agent?

Has anyone done partnerships for real estate investing before?

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