Partnership

5 Replies

Is it better to invest alone or start with a partnership?

Depends on your goals and aspirations, what you have to offer and if you can find a like minded individual. Everyone is different. There have been some great partnerships as represented on the podcasts.  I have also heard of horrible partnerships through various grapevines. 

Welcome to BP. Definitely check out the podcasts and blogs. 

Until you understand the business, you're not going to be clear on what to look for in a partner and what to avoid in a partner.  Additionally, you'll find yourself passing on responsibility for things you will NEED to eventually learn to your partner, then one day your partner won't be with you anymore and you won't know what to do in those areas.

My opinion is to hold off on partnering until you're completely self-sufficient...

i agree i need the experience on my own before going into a partnership with a person who probably has different ideas and beliefs than i do. It could cause a rough start i rather educate myself with a mentor rather than a partner 

You can't be successful by yourself.  Every successful person has a team and when you are doing real estate deals, there are different people in different roles to complete the deal.  You need to determine which role you want to play in the deal and whether you can accomplish that role by yourself or is it better to partner with someone.  It's easy to be a bird dog or wholesaler by yourself, versus being a house flipper, you need a team to do the rehab.  And on the lender side, you definitely need a team unless you are wealthy.  Just my two cents.

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