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.
Are you wholesaling these deals or doing fix-and-flips?
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.
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.
fix and flip
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!