Partnership for real estate investing

[Lee Lockhart]

Hi BP,

What are the pros and cons of partnering with individuals for real estate investing? Also, how do investors attract capital? Thanks for your responses! 

[Mark Scarola]

Pros: They keep you accountable, they have skills that you lack, spread out the risk, another person to run ideas past and review possible deals, less initial capital outlay on your part

Cons: You have to split the profit, you might disagree or have different ideas and goals, you lose a degree of control.

In short, partnerships can be great but they can also be terrible. Choosing the right partner is essential. No partner is better than a bad partner. But finding a great partner can be a major asset.