Investors Wanting To Partner

10 Replies

I'm coming across some attractive opportunities in the St. Louis area with foreclosure auctions. 

I'm looking for investors wishing to partner in deals.  Anyone know the best way of attracting funds to get the deals done?

Hi Dan, im in the St Louis area also! Are you looking for partners for auctions or just in Hard Money Loans?

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Maybe make some connections at your local REIA club.

Search for local credit unions and portfolio lenders.

Jenkins Ramon, JMWPS Ventures, LLC | [email protected]

I have a friend who gets short-term loans from a bank to do some purchase/flips.  I'm working on a home equity credit line.  Only problem, Chase, the original lender, has no clue what the "real" market value of our property is.  They, and Bank of America, are ridiculous.

I'd prefer partnering, JV'ing, or splitting profits with an investor.

Thanks for the suggestion.  Always appreciated.

Originally posted by @Dawn Anastasi :

If you have good deals, people will come to you, trust me.  I've had tons of people come to me.

 So how does this work?  Do you have a contract drawn up by a lawyer as to how much each partner gets?  What are the responsibilities of each partner?   

Originally posted by Mark Forest:
Originally posted by @Dawn Anastasi:

If you have good deals, people will come to you, trust me.  I've had tons of people come to me.

 So how does this work?  Do you have a contract drawn up by a lawyer as to how much each partner gets?  What are the responsibilities of each partner?   

In this particular case, I have unfortunately had to turn away a lot of offers.  I don't partner with many people.

But for those who are looking to form partnerships with others, I would definitely recommend meeting with a lawyer and making sure everything is clear.

Dawn Anastasi, Core Properties, LLC | http://www.coreprop.biz | Podcast Guest on Show #29

Originally posted by @Dawn Anastasi :

In this particular case, I have unfortunately had to turn away a lot of offers.  I don't partner with many people.

I am trying to understand partnering overall.  When people come to you what are they offering to do?  Do they offer to pay 50% of the house and work on it with you?  Do they then want half the rent sent to them? 

Originally posted by Mark Forest:
I am trying to understand partnering overall.  When people come to you what are they offering to do?  Do they offer to pay 50% of the house and work on it with you?  Do they then want half the rent sent to them? 

There are various ways of partnering.  Examples:

1) 50/50 split with financing - Both people put down 50% of the down payment and rehab but other person gets loan in their name.  Future cash flow split 55/45.

2) Equity split - other person buys the property with 100% of their funds (or financing) and I am also on title and get 20% on all future cash flow and sale of property.

3) Other variations of the above.

When partnering on real estate deals, any combination, as long as it's equitable for both partners, and both parties feel it's fair, can make sense.

Dawn Anastasi, Core Properties, LLC | http://www.coreprop.biz | Podcast Guest on Show #29