Investor · Orlando, FL · Member since 2012 · 12 posts · 4 votes
All,
I own a couple of properties (1SFH and 1 Condo). I would like to expand my portfolio (still undecided on buy-and-hold vs rehad/flip). But the issue that confronts be is liquidity. It is not there for me. I have read that partnering is the "bet way to go." Yet, I find myself having fear of being screwed over or whatnot. Can anyone provide advice or anecdotes on how they may have dealt with this?
I find that one of the keys to a successful partnership is to have a well written agreement. You need to spell out before hand exactly what are the objectives of the partnership, what happens if a partner wants to back out, how the income/expenses be split, etc. The more clear you are about establishing the boundaries within the partnership, the greater chance you will have in establishing a successful partnership.