Share your Partnership Deal stories
Hello,
I really like the strategy of partnerships, would anyone like to share some details of their first partnership?
If I took the path, I would be funding in exchange for my partners deeper knowledge and experience. I would likely focus on buy and hold.
My first partnership was a 10 unit apartment property. I found the owner through a direct mail campaign, and negotiated an amazing deal. I found a partner that had both the money and the expertise to manage the property. I put no money into it, and kept a small percentage of the ownership. I never had to think about that property again, except when I cashed my checks (that was back when checks were a thing). In retrospect I probably should have kept more of the deal, but I was happy to start the relationship with the investor.
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Real Estate Agent
- (210) 940-4284
- https://www.BirdyInvestmentTeam.com/
- [email protected]
I found my partner through a REIA meeting. He is a contractor and when weI first met he was my contractor for my BRRRR projects. We partnered where I found the properties, handled contracts, secured private lending, had W-2 job and good credit to refinance and assorted legal documents. That is how we arranged it. It doesn't actually work that way in reality. I help on rehabs on the weekend, he does a lot of tenant screening and show units. We both have numerous connections. We communicate every day. Communication is critical. We don't agree on everything but we find compromise. It's all laid out in our operating agreement.
I’d love to see your operating agreement if possible. Thanks