I'm looking for a partner to invest in some long term properties. Does anyone have any advise?
Are you looking for 50/50 partner?
I'm looking for someone with capital and give me 10% ownership or finder fee.
what are you bringing to the table?
It sounds like you want someone to help teach you the ropes without the risk of jumping in just yet, is that true? It's normal. Everyone has to start somewhere.
As George P. mentioned, you have to look at what you bring to the table . . . is it the ability to find deals, good negotiation skills, a large network of buyers, etc. Think about what you can do for the potential partner and then approach them with that.
Go to your local REIA meeting for a couple of months and just talk to people. Find out who is REALLY doing the business and where you can add value. Then, approach them with your offer.
If all else fails you can get started wholesaling which is basically finding the deals and getting paid a finders fee for that.
Best of luck!
If you're just looking to find properties and bring them to buyers then you're really looking at bird dogging (passing on leads on sellers) or wholesaling (getting a property under contract then reselling it in some way to the end buyer.) Neither of those approaches involve partnering.
If you're looking for an equity stake in the property you need to do something more than just bring it to the end buyer. For example, managing the property in exchange for an equity stake rather than taking the usual property management fees.
Jon Holdman, Flying Phoenix LLC
@Dan Williams Like what @Jon Holdman and @RIchard Roop said if you are going to look for a partner I recommend focusing on what you can do for them. It's sales 101, nobody is going to respond to what you want in this situation, they want to know what's in it for them. If you can make good points on the benefits of partnering with you for the other party, and not how you benefit, you will have no trouble finding a partner.
Free eBook from BiggerPockets!
- 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!