Do anyone have any good ideas going about finding a good investor business partner?
Advice? Yeah, don’t do it.
The only one you should partner with is your spouse. Real estate partnerships fail, partners don’t perform as you expect, partners disagree and fight.
There is nothing in real estate that you need a partner for. You do the work yourself, you make the money yourself, you make all the decisions yourself, and you will be a lot happier.
Hi,
I have had really good experiences working with partners! We treat every project like a professional business transaction!
I have at least a couple of business partners that we have done projects together for a number of years!
Like any business an operating agreement needs to generally be spelled out, write out the terms and conditions, financial agreements, management plans, term limits, determine emergency arrangements, how a disablement, divorce or death is handled, and what the expectations of each partner are expected.
I have probable done a couple hundred partnership properties the last thirty years with a few up’s and downs but for the most part hugely successful.
There are a lot of reasons investors pair up from time to time and tackle a property that neither one could handle individually at that moment, and to do even one partner ship a year could add capital or networth to your position.
Be careful, don’t be in a hurry, and get to know your potential investment partner before before a property agreement.
Most of my investment partners became my friends through introductions, REI meetings, REIA meetings, introductions through friends, real estate seminars or transactions as a buyer or seller.
GR