Building a partnership

5 Replies | San Antonio, Texas

Hello Biggerpockets! 

My name is Nathan Boudreau. The military brought me down here to SA. I got married to my beautiful wife and recently separated from the service. I am currently in the midst of becoming an agent, but I really want to start investing in rental properties as soon as possible. I have a really good buddy that I served with that also shares my goals in investing. I guess my question is, what is a good constructive way to form a partnership with him, are there legalities? Is there a format I can go off of that has worked for other partnerships? 

Thank you, 

-Nathan Boudreau 

-New Biggerpockets dude

@Nathan J Boudreau - Welcome to BP! I’ve spent some time in SA at FSH for various schools. Great markets down there too. 

I just picked up a copy of “Start Your Own Corporation” by Garrett Sutton. In that book he discusses partnerships. That might help point you in the right direction.

Everyone brings a different strength to the table. Find out what each person brings and objectively analyze that strength. How can you work together to bring each strength together and build a real estate business. You may find that you should each work independently and collaborate on some deals.

Personally, I would work seperately, but stay in touch. If you want to go in on a deal together, just put both your names on the property.