If I need to seek a partner to afford a down payment on a property, what would be the standard terms of a deal like this? Hypothetically let's say I would:
1) seek $30000 for a down payment
2) plan to hire a property manager
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
9y
@Joshua Engemann terms of the deal depend on what you bring to the deal and what the money person brings to the deal besides money. What do you bring to the deal?
Since you are hiring a property manager it seems like you don't have property management experience so unless you have a property that is off market and significantly below market, you won't find partners unless they are friends and family.
You need to figure out what your "superpower" is and then leverage that in a deal.
Thanks you Bill S. , I know that sounded really vague, but I just didn't know anything about searching for a partner. Your information was helpful. It does make sense that a partner wouldn't likely give up money if both parties didn't have something to offer.