Partner in Phoenix AZ

7 Replies

Hello BP community,

I am working on purchasing my first property by the end of 2018. I found a 6 unit package that peaked my interest in Phoenix AZ. Wanting to find a partner with some capital in exchange for me self-managing/sweat equity. Feel free to connect with me on here if you'd like to discuss further.

It is very tough to find that because you would need to be just as good as professionals who do the work for a living and charge less because otherwise the partner with capital would be better off on their own.  The best way to find a partner like this is to look inside your existing sphere of influence, but in general this structure is tough.

@Brandon Knudtson Stick with it, just takes the right person to link up with. What would your payout structure be for partners? I have a few buyers that are looking at multi-family, I don't know if they are really looking for a partner at the moment, but it's something I could mention to them. I would just need to know details on what you expect. 

I do agree with @Aaron K. that you would likely somehow need to distinguish yourself from the standard professional property manager in some way. Either taking a lower percentage or offering additional services. 

@Kellen King I guess I would be looking more along the lines of finding a private money loan. I would want the property to be mine in the long run, as opposed as to being just a property manager for someone else. I want to learn on the job by managing this first property myself while I continue to grow my portfolio long term. I guess seeking out a partner may not have been the most accurate phrasing in my original post.

Originally posted by @Aaron K. :

It is very tough to find that because you would need to be just as good as professionals who do the work for a living and charge less because otherwise the partner with capital would be better off on their own.  The best way to find a partner like this is to look inside your existing sphere of influence, but in general this structure is tough.

 This guy is Good. He can politely say things that aren't what people want to hear. 

I also weary of find a deal the 💰 will show up at closing. SchTicK.

The operator is just as important as the deal. 

@Brandon Knudtson why a private loan and not a traditional one, private loans are generally more expensive and only a good idea for most people if they are in a unique situation (entrepreneur income, depreciation lowers income etc.).  You might try qualifying the traditional way first.

Thanks @Eric Adobo I try to be as realistic as possible in my posts, hype doesn't actually help anyone.

@Aaron K. Just exploring all my options. I have been pre-qualified for a traditional loan which could get me 1-4 units (depending on location within my market, condition, size, age, etc). I would like to eventually build up a sizeable portfolio of rental units, I figured maybe I can get more units on my first deal if I can find some private money to help facilitate the purchase. I am looking into buying 2-4 units with a traditional loan and have put a couple offers in over the past two weeks. In the meantime, I'm just dreaming big and seeing if I could get 5-10 units on my first deal with alternative financing. Also, engaging in the forums has been a good way to connect to the BP community/people in my local market.