I am a looking for a partner to invest in a multi-family property in the North Shore, MA area.
Any suggestions on how to find someone?
Thank you in advance.
@Nathan Nunley I'd recommend visiting some of the local REIAs. Also advertise her on BP in the "Marketplace" section.
Network on BiggerPockets (add investors in your area). Go to your local REIA (Real Estate Investor Association). Go to Biggerpockets.com/events and find one in your area.
Your best bet is to first find people with a mutual interest in investing in RE. Then your next step would be to have a solid business plan thought out before even bringing up a partnership. Have your homework done beforehand could be the difference in finding a business partner and not finding one at all.
Got it. Thank you for the quick reply!
@Nathan Nunley Definitely check out the local meetups. My team and I went to our first one last week up in Lawrence and it was one of the most informative things we've done so far. Connected with some great people and got some awesome referrals. Check out the Events section here on BP!
Glad to have found this current thread. Is there a resource on BP or one you recommend that covers the legal requirements of setting up a syndicate? In the context of the latest BP podcast episode with Grant Cardone, he encourages the boys to use their money to raise other money and buy way bigger properties. We're ready to do that and looking for next steps, requirements, etc. THANK YOU!!!
Start by determining what kind of partner you are seeking. Someone with money or someone with experience? What is your expectation of this partner? Sounds like you may want them to have an active role and not just be a money partner. If that's the case, meetups and REIAs are a good place to start. Talk to brokers and other RE professionals as they may be able to connect you with other investors in their network.
@Nathan Nunley what’s the current occupancy?
Personally for this sort of thing I find it helpful to lay the groundwork early. If you find someone who would make a great partner mention it before you have the deal and then bring it up again once you do.
In my case I already have someone who I know would make a great partner but you’d have to mention it to him long before you had the deal and you have to build the relationship first
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