Ok so I am new to REI but have had a couple things close..all with the help of a JV partner who is a broker/investor them self..I have a website which I advertise my business on craigslist and other places which got me 1 that we wholesaled..and found a vacant property we tracked down the owners daughter to and that one wholesaled and then had a person who sells me leads sell us a probate one and that got wholesaled...my partner does all the work as in paper and title/contract/closing ..all of it..im basically bringing the deals and doin the foot work and im a ghost on contract..we split 50/50 ..the money has been great but im to a point where its not enough for me to make my own moves..so rather than waiting for people to call me im looking for REOs and foreclosures and looking for ones that have big equity gaps and when i find one i want to get it then either wholesale or rehab it and do this a few times taking little chunks of money and saving it until i get a goal of 50k...my problem is the money part..i can use my partners private money who is asking 12%annual interest and the money wants 50% of profits ..which would leave the other 50% for me and my partner to split and id probably stay being a ghost and being quiet OR do I just go get my own hard money loan and break away from him and start taking all the risk...no risk no reward i get it but if i continue to do it the way i been doing it then i'll be little more on easy street until my goal is met. 1 down side is time..i think my partner is treats me more like a option rather than a priority which I understand but I dont get questions and things done as fast as i think they should get handled. what do you guys think?
I will just be honest with you. The likely reason, in my opinion, that you are not getting any responses is because your writing is awful. Your wall of text and random ellipses read like Charlie Brown's teachers.
he only had 1 teacher ..and they are more famous and known than you or me so i guess thanks..didnt come here to fight with people or be insulted..thanks biggerpockets for a nice place to ask for help.
Do them both. No one says you have to stop your JV Partnership just to go find deals on your own. If a deal comes through the current pipeline, chase that deal like you have been. If a deal comes through your new efforts, take that down the other path.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!