Beginner Investor with questions

[Tara Witherbee]

Hello All!

So, I'm a beginning investor and I have questions. The one I have at the moment is, is there a way to find potential partners to do business with in doing long term rentals? I'm thinking about doing a duplex and making passive income, but I also know that it takes a lot of work. My personal end goal, of course is to have it hands off. I'm ok with paying other people to handle what needs to get done. But I feel like it would be a bit easier having someone you can trust as a partner to help build it. So, I don't know if there is a specific forum for that or ??? Any ideas? Also, I don't have any money of my own to get started with a duplex, but I know there are other ways of going about it. I also don't want to use my credit, either, but I'm not sure how obtaining the funds for a project like this would go? Theoretically, can you pay off a loan with whatever income you get with the said duplex? That's another thing I'm trying to figure out is how to pay the money back. Any guidance or advice would be greatly appreciated! Thank you all, and have a Beautiful Day!

Sincerely,

Tara

[Bryce Jamison]

You sound like you're still trying to figure out what potential strategies would be right for you. I'd recommend spending at least 6-12 months educating yourself through websites likes this and its family of books and podcasts, other real estate podcasts, books at the library, and local meetups. After this time you'll know what strategy you want to deploy, and may have the confidence and knowledge to do it without a partner

This can also provide time to pay off any consumer debt, save an emergency fund, and start saving for a property as needed. This time can also be spent learning everything possible about your target market using websites like Zillow.

I wouldn't advise a partnership, but even if you wanted one given your lack of experience or capital it may be difficult to. From a business perspective, what are you offering that would make an experienced investor want to take on the risks and extra work of showing you how to do what it took them years to learn?