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Updated about 6 years ago on . Most recent reply

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12
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Mark Moses
  • Investor
  • Davenport, FL
0
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12
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How to get a credit partner?

Mark Moses
  • Investor
  • Davenport, FL
Posted

Curious if anyone knows a place to find a credit partner? If so, what was your experience?

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Account Closed
  • Flipper
  • Scranton, PA
12
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19
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Account Closed
  • Flipper
  • Scranton, PA
Replied

I am a credit/cash partner. To get my attention, a potential partner needs to find the deal and be prepared to do all the work. That means  having a background in construction, engineering and/or property management is extremely helpful to demonstrating their ability to perform with my money. I do flips and buy & hold. The property always goes in my name and I generally split the profit AND LOSSES 50/50 (always negotiable). Any expenses for material is paid or reimbursed by me so my partners are generally out of pocket only their time (assuming their is no monetary loss). I usually require some upfront money from my partner to ensure my they follow through after I purchase the property. I have a track record and references that prove my partners always get their half and the books are transparent.

I hope my example helps to set your expectations and provides a template for any relationships for which you may get involved.

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