Should I start searching for a new partner/investor

Should I start searching for a new partner/investor

Nathan CrossBusiness Member
Investor · Saint Louis, MO · Member since 2019 · 146 posts · 66 votes

So found out that the current partner/investor is having to slow down on his investing into flipping for a little while. He didn't say he was going to stop investing with me, but did say that his next venture was starting to look at his financials. I was not too upset about it, but I did start thinking damn I have to find another person or two to invest to keep this train rolling. We currently have one property on the market, another about 2 weeks or so from being on the market, just closed on another one today, and will close on a duplex in about two weeks. I been working the skip trace logs that I have all day today, in between checking on properties and meeting with a new GC. So, my question to the Bigger Pockets crowd is what would you do in my situation? Oh I did forget to mention, I have a possible another investor who I have worked with in the military. He has about $60K on hand to invest into a flip. We are going to go over stuff tomorrow, and I will show him how I do all the contracts and take care of everything so to make it easy on him to sit back and wait for his ROI's.

But any and all advice for anyone that has come to a situation like this would be great! Thanks 

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  • Matthew Irish-JonesBusiness Member
    Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
    7y
    Why do you need a partner?
    Irish Jones Realty4.947 Reviews
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  • Real Estate Agent · Atlanta, GA · Member since 2015 · 359 posts · 158 votes
    7y
    I agree w/ Matt on this.  Sounds like you are doing well on your own.  Unless they are bringing more than just cash to the table, I would do it myself and keep all the profits and grow from there.  That way you don't have to answer to anyone.
  • Nathan CrossBusiness Member
    OP
    Investor · Saint Louis, MO · Member since 2019 · 146 posts · 66 votes
    6y
    Originally posted by @Matthew Irish-Jones:

    Why do you need a partner?

    I am trying to stretch my capital as much as I can. With this partner since I am doing most of the day to day when it comes to the deals I find, he puts in more capital. Which in the end allows me to take action on more deals. 

  • Nathan CrossBusiness Member
    OP
    Investor · Saint Louis, MO · Member since 2019 · 146 posts · 66 votes
    6y
    Originally posted by @Josh Bakhshi:
    I agree w/ Matt on this.  Sounds like you are doing well on your own.  Unless they are bringing more than just cash to the table, I would do it myself and keep all the profits and grow from there.  That way you don't have to answer to anyone.

    I am doing ok. But I would like to extend the capital I have in order to get into more deals. I run the day to day on the projects and the partner invest more capital. I think that its a good set up for the most part, but it does bother me when and if the partner decides to pull out on the last minute. 

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