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Updated almost 10 years ago on . Most recent reply

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Collin Vosburgh
  • Otsego, MI
5
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Someone with 65k wants to partner up with me

Collin Vosburgh
  • Otsego, MI
Posted

    Hello everyone, so my girlfriends mother said she would like to partner up with me. I haven't done any deals yet but I have been playing around in the stock market a bit to get enough money to start investing in real estate which is my ultimate goal and what I've been studying like crazy the last few months. Now with her wanting to partner with me I think I can make it happen sooner than I though.. hopefully. She has a house that's completely paid for and 65k at her disposal and she wants to me start making her money work for her. Does anyone have any advice on how I should get started? Thank you!

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1,391
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Dan Mackin
  • Real Estate Agent
  • Erie, CO
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1,391
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Dan Mackin
  • Real Estate Agent
  • Erie, CO
Replied

It may be worth talking to a lawyer about setting up some sort of Joint Venture for this type of situation. It's best to have your bases covered with family so that everyone involved knows what they are responsible for and what they should expect. I have no problems with this type of deal, but definitely advise legal advice to avoid major conflicts. Especially since you are new to REI.

  • Dan Mackin
  • 720-466-3378

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