should i keep my partner?

Question

right now i have a partner who is the money guy and he knows the repair estimates.  i find the deals and we split it 50/50.   doesnt get much better than that for a somewhat new investor. The thing is, he has other things going on for him (other jobs).

he funds my marketing campaign as well.

i send him these deals and he doesnt look at them because he says he is to busy.

the other day i sent him a deal and it had great profit. i sent it to him (right in his city) and he never responded.  i told him we need to check it out soon. still no response.  the following week it is under contract.....

i cant afford to keep missing these deals. i am doing this full time and am not sure how i should manuever this obstacle...

should i bail on my partner and find a new one? i've tried talking to him once and apparently that didnt work too well.

Kim Giannola · Answer

I think you need to have proper and lengthy conversation with your partner.  Try to schedule a block of time to tell him how you are losing out on deals due to his response time.  Ask him if he really wants to be in this with you.  If yes, then maybe you should schedule periodic phone/web meetings to review deals with him.  He may need you to spoon feed him the data at set times because he is failing to manage reviewing deals on his own time.

How many deals have you two partnered on?  Maybe you should start shopping around for other partners so you have multiple people to call upon when a good deal pops up.

Danny Woodson · Answer

@Kim Giannola

thanks kim, guess thats what i gotta do.   i tried poking around talking to a few investors but i feel like im kind of back stabbing him by going behind his back.

Account Closed

fix and flip

Braden C. · Answer

@Danny Woodson

Are you wholesaling these deals or doing fix-and-flips?