All Forum Posts by: Kelly Beasley

@Jeff Stansberry thanks for that tidbit about what you are doing. May I ask where you found your partner? I mean, how well do you know them and what made you trust them with your money? (Besides paperwork) How do you trust that they know what they are doing enough to almost definitely turn a profit?

Wow, @Martin C.. Good points. I suppose I should point out that my business partner and I are really close. As in we have called ourselves life partners. No, we are not in a romantic relationship. So, it's an odd 'coupling'. Somehow, it works for us. THIS is my biggest factor in 'bringing him in'. I KNOW he looks out for me, and I for him. 

So it SEEMS like a good idea in that we are partners in many aspects of life... but no, he's not interested in RE. He IS interested in other ways WE can make $$ as a team. As am I. He is the numbers guy. The 'nerdy' aspect of the business. I am the creative, the social, the idea bouncer. 

Could we start a successful RE investment company? Feels like it. Maybe I should do one deal first. To know if I CAN do it, and to HAVE to deal with things I don't want to deal with, like you said about wanting to avoid difficult/new tasks.

All interesting perspectives. Thank you @Suzy Sevier for that input. I am getting both sides (do it, don't do it) from different people! 

Maybe telling everyone this tidbit about our 'relationship' will help clear for some why I am/was so keen to bring him in. We work VERY WELL together and we have the same goal. To eventually make our little team financially stable with plentiful passive income. 

(I figured owning RE together in the long run would be very complicated. Figured buy, fix, flip would be simpler in financials)

I thought we could do some flips together, give each of us $ to re-invest, and then I DO want to buy and hold cash-flowing properties for myself, and he can do the same. 

This is incredibly difficult. But so much help here! I am going to have to go back through and read everyone's answers again to recap!

@Aigo Pyles are you talking about me and my business partner- our company? Do we do 50/50 work? If so, yes, pretty much. Neither of us feels like the other one does more work than the other. We just don't sweat it. We are both in it together, and we respect each other and know each other's value. It really works well. 

@Chris Matthew thank you for the input! I am so completely unsure of what I am going to do at this point. Just going to keep forging ahead looking for that 'answer'. It may involve my biz partner, it may not. I simply don't know at this point in time.Thanks for the support!

@Matt Nico yeah, no, I am NOT 'offendable'. That was just really funny. LOL!

Truth, no-one can run off with a house. They CAN run off with your money though. So yeah, it will have to be played properly. Thank you for your offer to reach out. Look out. It might happen. : )

I do want to get to know the smartest of the smart on BP. 

Someone smarter than I am, anyway. Which, probably won't be hard to find, LOL! Kidding. 

And nope, not in a rush. Learning, yes. Analysis paralysis? Not yet. I just figure when I find the right deal, or right partner, I will jump on the opportunity. It may be a year from now. Hope not. My $ is sitting there losing value as we speak! (Such poor interest rates)

@Matt Nico LOLOL! No, you hit the nail on the head. He doesn't 'even know what real estate is'! (That cracked me up by the way) 

I am going to have to start making some connections here on BP. 'Cause for me to trust someone I don't know with ANY amount of my $ is going going to be a tough sell. But I totally agree with you- I'd love to find someone I get to know, and TRUST (with the proper legal documents in place, regardless), to start doing deals with. 

Honest to god, FIGURING OUT which path to take is the HARDEST part, if you ask me.

One could house hack, flip, BRRRR, go multi-family, fix up and hold, do short-term rentals, etc, etc, etc. Preaching to the choir here.

Would be nice to have the FIRST (break the ice) property handled with a partner- someone with hella experience so as to get the feet wet so to speak. 

If anyone has ideas of how a newbie with money to invest can find an experienced investor like that to partner with and start up a conversation about doing a deal together, I'm all ears.  

Or did everyone start their first deal on their own? 

I CAN do it alone. Just not sure if it's the BEST route/idea. Don't want to LOSE money here. Seems an experienced eye/ear would be worth SO much. I have the $$, would love to find someone with the experience to get to know and eventually partner with on a deal, if things work out. 

@Andrew B. yes, I definitely would be getting all of my investment back! Possibly with interest. I don’t see that as outlandish to ask. 😁

@Josue Rosario You (and others) made some very valid points. Thinking back on it, I have never done anything with him where money was put up front unequally. Maybe I will not go to 50-50 route, if I go this route at all. Probably a better idea not to. 

Thank you @Jake Colter! We shall see how this develops. Or what I decide to do. Still unsure. Researching like mad. 

@Jamie DeRossett that's great that you have a good partnership with your wife! Thank you for your story. It helps to hear who has succeeded or not succeeded with what kinds of deals.