Updated over 4 years ago on . Most recent reply
I want to buy a duplex but need my friend for the down!
I want to buy a home which is zoned for duplex! The asking price is 280K but I can probably bring it down to 250K. How can I convince my friend to go into business with me. I would be handling the leg work and he would be the funds for the venture. Any ideas?
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Find out what his goals are and how investing with you can help him reach those goals. It should be something he is excited about and not something you need to sell him on if that makes sense. Look for problems you can solve by putting his capital into the deal- is his money sitting in the bank earning close to nothing? Is he looking for cash flow? Is he interested in the tax advantages that come with investing in Real Estate?
Also, if you have experience of any sort explain to him why you are capable of executing the business plan that you come up with. People invest in people not deals. Good luck!