I’m looking to use a credit partner or cash partner to purchase real estate. Can anyone give me some advice on how to go about doing this. :shocked
You’ll need to bring something to the table besides just a desire to buy real estate or manage a rental. I’m not saying you’re doing that. Are you skilled in any construction related trades? A somewhat ideal setup would be to bring someone with money together with someone who can rehab/repair and manage the property. The parties have to agree in writing how everything is handled and split financially. So I think you need to accurately assess your skills, available time, and desire and then look for people who have what you lack. Make sure everything is in writing.
Thanks for replying to my post. Yes I am a carpenter and I just started my own construction company. I can bring the sweat equity to the table. :help
You’ll be of great value to someone in your area. You could try to talk to some local Realtors and see who the players are there. You could also just advertise locally looking for a business partner. I don’t know how big of a market you’re in, but the Realtors should know some names of people who own multiple properties. Some of the Realtors will also invest too. You might be able to check with title companies and attorneys who do real estate closings.
You’ll have to see what kind of investing the money partner wants to do. It may be rentals or rehabs.
Good luck with it.
Thanks for the tip !
Hi curtlynn, I think for better advice you should talk to some local realtors who has great knowledge about that. They can give you better advice.
This must be a credit partnership agreement. As part of this partnership, you must really first what you need and want. Do you prefer general, limited liability or equity partnerships? I think that this is a crucial part because you can identify a lot of opportunities when you are within the same line of partnership.