I was wondering what kind of strategies people have used for finding and working with partners to help fund deals in the past? I'm living outside of the US and wanted to get started investing in real estate but only have about $8000 saved up for a down payment. Also, I'm looking to start in the Dallas area.
If anyone has any advice it would be greatly appreciated.
My biggest advice is to keep saving so that when you return to the US you have a nest egg ready to invest. "Most" partner deals have two sides, 1 - the partner with money and 2 - the partner with the time/knowledge/expertise to make the deal happen. In your case you do not have the money, and you are too far to be the boots on the ground for the team.
Between now and then I would save, and then work on becoming an expert in the market you are interested in so that when you return you will have something to give to a partnership to show value.
In terms of meeting people, RE meetups is HUGE and undervalued by many. The other thing that has helped me is just constantly talking about my RE business. Every day I get more and more people reaching out to me because they "heard from a close friend" that I was in RE. This builds my circle and over time opportunities present themselves because of me just talking about what I love doing.
Hope this helps
@Justin Woodard I would start with people that are close to you and trust you. Its easier to get started with something you have less experience with (investing in real estate) people who trust you more, because in the end, most partnerships come down to trust.
Start with family members and closer friends. Also try and make it so you start in an area with less money. The lower the barrier to entry the easier it is for someone to agree to it. Just my two cents
I have an international partner and a out of state partner on the west coast........found my international partner on FB....and my west coast partner here on BP......its been great working with them both
I would spend a lot of time on Bigger Pockets and connect with multiple investors in Dallas area. I would even join meet up groups since most of them are virtual and get educated about the area.