All Forum Posts by: Account Closed

@Jeremy Pope To me, the first step isn’t thinking about what you need from others, it’s understanding what you bring to the table and where your gaps are that need to be filled. I’d spend time figuring out where you want to go before trying to find others to help get there.

@David White Without knowing more than above, you’re describing someone with bad credit and liquid cash. Is this a person you want to be a partner with legally for years? Is that someone who will be able to help you find the money in three years when the roof needs fixing or a capital call because 2 apartments are vacant?

If the person doesn’t have the time to wait for traditional lending now it raises questions to me about their long term viability as a partner.

Last ... if you genuinely cannot wait and this cash is burning a hole in someone’s pocket, buy the building and refinance later. That seems like a bigger hassle to me, but you have that option as well.

@Jill Thomas and @Riley Schaefer thank you for responses here. Good stuff. Would love to connect directly after the holiday if you’re up for dealing with a newbie here on BP