Should I start my real estate journey with my dad? Or solo

[Nick Farrell]

I’m looking to purchase my first property. I proposed the idea to my father and he likes the idea. My dad and I have a modest amount of money to get started. I’m very nervous about getting into money and business with my dad. Is this a bad idea? I feel like I should answer to him bc he’s my father. But, I’m the one with business experience. (I operate a restaurant)

Anyone else start this way? Reach out!

-Nick

[Brian Adzadi]

@Nick Farrell

It all depends on the type of person your father is and how good of a relationship you two have.

If he has the following qualities then I would suggest not going any further with him

1. An overbearing stick in the mud

2. General dictator, you do as I say, You are wrong, I am right

3. Lackadaisical, you will be doing most of the grunt work

4. Passive aggressive

5. Any other personality that you are not fond of

Altogether, if you have to come to biggerpockets to ask if you should go into business with your father then shouldn't that be a sign that maybe you shouldn't? You are asking complete strangers to make a judgment call about someone you have known your whole life. If he is a business savvy go getter then I am pretty sure you wouldn't have thought twice about doing business with him.

There is nothing wrong with going solo. Make your own path. Sometimes its better to not have family involved with business. Muddies the water.