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Updated 22 days ago on . Most recent reply

User Stats

8
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2
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Charles Lundquist
  • New to Real Estate
  • Bronx, NY
2
Votes |
8
Posts

First Deal: Go Solo or Partner Up?

Charles Lundquist
  • New to Real Estate
  • Bronx, NY
Posted

Hey BP,

I’m gearing up to close my first deal this fall. I’ve walked a ton of properties, narrowed down the area, and I’m ready to get in. It’s a house hack, 5% down, and I’ve got ~$100K in capital to start. Plan is to do multiple deals over the next 2 years.

Here’s where I’m torn:

  • Solo: I can do this first deal alone. I’d keep all the equity and cash flow, use the low-down loan, and move with full control. Since I’ve got the capital, that feels clean and simple.

  • Partner: I’ve got two potential partners — one’s a contractor, the other has good real estate experience. They could definitely help analyze deals and speed up scaling. But I’d be giving up part of this first deal’s upside, and it’s a really strong one. The low-down loan especially feels like a big advantage to keep to myself.

So — start solo and bring them in later? Or partner now and move faster long-term?

Anyone else wrestle with this?

Appreciate any thoughts.

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