Do you invest with a partner?

[Mindy Jensen]

Looking for investors who use partnerships due to high cost of properties. 

[John Thedford]

As a general rule I do not partner. Too many issues. I have done so in the past and also partnered on some HML. I see partnerships as a value in more costly properties 1M+. I turned down one today because the investor had no clue of value and has something under contract for 50K more than he should:)

New investors with little cash might be better served partnering until they build capital. Partnerships should have VERY SOLID written agreements with all parties understanding their role and responsibilities.

My last partnership involved a flip. I did NOT vette the person and acted solely as the HML. It was a nightmare and I ended up doing a quit claim and taking the property! This was with a BP regular that posts frequently about partnering etc-so I would tell people not to fall into the same trap as I did and invest with someone solely because you are "familiar" with them. Anyone can be anything on the net, but that doesn't make it true.