I want to understandPARTNERSHIPS

[Eli Kalen]

Hello BP, 

I'm at a place where partnerships are necessary to my success in REI. Understanding other peoples experiences in the three areas that build a partnership. Is very important right now.

If your a Deal finder please share your experience. 

If your a Loan signer please share what makes a deal feel good or bad about putting your credit on the line.

If your the Money person what make you feel good and bad about putting putting your $$ into a deal. (Do you prefer putting a down payment down or do you like to pay in cash??) 

[Joe Villeneuve]

I have used partnerships since, well, it seems like the beginning of time.  Not all worked, most have.  Before you start to define that areas for different types of partners, you have to realize why you need a partner...and why you don't.  What makes a good partner, or an unnecessary one to begin with.

First, there are only three reasons to form a partnership, and each partner must fill one of them, or don't partner with that person/entity:

1 - The Partner in question must do something you can't do (the obvious one),

2 - The Partner in question must do something you don't want to do (if you don't want to do it, you won't do it well),

...and the last one, but the most important one...

3 - The Partner in question must do something you shouldn't do.  (just because you can do something, doesn't mean you should)

Second, if the Partner in question doesn't fall in line with one of the above 3 criteria, Don't Form a Partnership with them...it will fail.

I see many partnerships formed with roles unfilled, and roles duplicated (redundant), and the partners can't figure out why the partnership didn't work.  

They'll say things like:

"I've known this person all my life, we should have been perfect for eachother" 

or,

"My brother and I...", etc...