Updated over 8 years ago on . Most recent reply
Partnership success stories
I am an experienced Northern Michigan investor and contractor focused on buying distressed properties, rehabbing and holding as long term rentals. Although investment is my full-time job, I find far more deals than I have time or cash to complete. Ive recently considered taking on a partner. The thought is with the right partnership I can grow at a faster rate then alone. I started the business alone and never partnered in the beginning, and continually debate the pros and cons of a partnership now. Any thoughts on structuring a partnership, or dividing workload? Success stories?
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Donald Murphy I've also been considering the same situation. I've had great success with a STR in Gatlinburg, TN and went to put the pedal to the metal. I could probably use existing cash plus a cash out refi to buy another VR in TN bug am wondering if flipping and/or apartment buildings is the way to go. I've been prodding some local friends in CT but they are resistant. I too have considered partnering but there are the obvious pros/cons, for starters perfect strangers in some cases. Maybe we could chat about this sometime soon. If for anything we could maybe teach each other new things and help each other think of things we otherwise alone may not have even if it all never winds up in a partnership. Reach out to me some time Donald!
Thanks?
Jeff