What do exp. investors look for in a rookie willing to partner.

5 Replies

Hey UT BP users!

I’m curious what experienced investors in the area look for in a partner. Also, how willing those experienced investors are to partner with a rookie/new investor. For example, what does the ideal partnership with a rookie look like to you? Why? What do you want the rookie to bring to the table? Money? willingness to learn? What if they bring a deal to you? Are you willing to go in 50/50 on that deal and what is that 50/50 (would you be willing to take a deal that a rookie found and fund it then split the difference 50/50?) 

These have been recent questions running through my head at the moment. I’m really curious. I think this life is much better when we use interdependence. Looking forward to the replies.

@Carlin Barney , someone who is going to help me make money without wasting a lot of my time. 

Bringing a deal is certainly valuable, but 50/50? Maybe, maybe not. If I'm funding the whole thing (i.e. taking all the risk) working the whole deal (i.e. leveraging my knowledge and experience) and teaching you along the way (i.e. working for free) then what are you doing to earn your 50%? If I am in need of a deal then maybe, or if it is a screaming good deal which rookies rarely actually have, OK. But bottom line is you need to bring exceptional value because if I don't need the deal then I don't really need you.

I don't want to sound too harsh, but there are a ton of people looking for mentors that are really just looking for free education and honestly will probably never do anything with it.

I’m not looking for anyone to beat around the bush. Thats not my personality so thank you for your frankness. These are just questions that I’ve been mulling around in my head. Thanks for your straightforward approach! I appreciate it. 

To add to that, often I think the best mentor is yourself. Getting your hands dirty (often literally) and doing a house hack will teach you so much. Youtube how to replace faucets, get quotes from electricians, visit properties with a agent, these are all things you can do for free. You are going to make mistakes, but as long as you learn from them, they are more like happy accidents.

I noticed you do mention money, which would be a valuable asset in a rookie. However, I've never met someone with tens of thousands of dollars laying around who wants to get into real estate and needs a mentor. It's usually people with no money but are willing to put in time, like myself.

I wasn't looking to partner, but one of the mistakes I made was let locals know I was a cash buyer. 

What these people wanted from me was my money and blind faith, and I don't operate that way.