I have been saving money for a while to get my first rental property. I have been reading books, but I would still like to hear personal stories of how people met their investing partners. So please let me know how it worked for you.
I have found each of my partners in the normal process of life or in the process of serving as their real estate agent. When we are going through life or trenches together it can be a great opportunity to see the commonalities among us that would be ideal as partners.
The biggest thing I've learned is that you want to have some key unities with your partner(s). The more core things you share in common (while bringing complimentary skills to the table) the more solid your partnership will be.
@Will Fraser thanks will! Sorry, it took so long to respond. I thought I would receive notifications when someone replied.
I have several friends interested in investing, but you always hear people say not to get into business with friends.
@Dylan Viola , no worries dude. I've heard that same advice time and time again and I've seen it ring true in my own life, but as I've gotten older my friendships have begun to be centered around different things that are more compatible to partnerships, and now I would consider it pure joy to be partners with my friends (not the people I grew up with whom I was friends because . . . we were from the same place and liked each other more than the other people around?). So, I guess it really just depends . . .
Well, we bunked together for most years from when I was 3 til I was 18. We fought a ton, but now we're best buds.
In all seriousness though, my brother and I are great, complementary partners, and I have no fear of it souring our relationship. A family partner can be pretty awesome, but many people have hurt family relationships because of business, so I'd only recommend it to others if both family members have a high level of integrity, reliability, and drive, and if you have a rock solid relationship.