Found a Great Opportunity - Questions about finding partners
I just came across a great deal that is being listed through an agent (retail). It's 4 BRAND NEW townhomes, located in a very good area near where I live and work. Each townhome is rented at $1200. The insurance is $1700, taxes are $1251, maintenance is $75 per month. They are asking $650k for it. In my opinion, I think this is a great cash flow opportunity.
As a broke newbie with low credit, this is obviously just a dream. I started thinking that a possible way to get an "in" on this deal, would be to present it to, and partner with some investors that may not have a problem considering such a deal. I had the opportunity to meet some at the last REIA meetup, that appear to be potential candidates for such a deal.
Obviously, cash would not be something I could bring to the table. On the other hand, I am presenting this deal to them, and I can offer to manage the property and possibly do some lite maintenance work in exchange for a "piece of the partnership pie". If anyone has any suggestions on this thought, I would greatly appreciate it. As an added thought, I also wonder what's to keep any of the investors from simply using the deal I present without being included in it. Again, any words of wisdom would be appreciated.