Who Do You Want for a Partner?

General Real Estate Investing
1

We seem to be inundated lately with spam posts of people offering everything from great deals on rental properties, to great financing, to making money in the stock market. All of these people are targeting newbies and they all want to be your partner. So, I thought I would ask who you consider a worthy partner?

Here’s my criteria:

  1. I DON’T want a partner with bad credit. Credit is a measure of trust and I don’t need a partner who is not trustworthy.

  2. I DON’T want a partner without experience. The last thing that I want to do is try to educate a partner who doesn’t know what he’s doing.

  3. I DON’T want a partner whose advertising has a bunch of spelling errors. Someone this unprofessional clearly can’t even handle the most basic of tasks, let alone be my partner.

  4. I DON’T want to be a money partner, where someone else gets my money or credit and I am expected to stay out of things.

  5. I DON’T want a partner with a criminal history.

  6. I DO want a partner who is smarter, more experienced, and has more money than I do (but why would they want me)?

  7. I DO want a partner who has a verifiable track record, not a pretender.

That’s all I can think of right now. What did I miss?

Mike

2

I want a partner who has some deals

3

I just haven’t ever found a reason to partner with anyone. I can only think of taking on a partner if that partner gives me access to a greater deal than I can do myself. If I find a deal that I can’t swing myself and the returns are much bigger than what I can get doing my deals then I will partner.

Every deal I do, I get 100% of the proceeds with a partenr I get 50% of the proceeds. It has to be a heck of a deal.

4

I’ve yet to see why anyone needs a partner yet. And if they do need a partner (if they have bad credit, etc) I don’t see why anyone would partner with them. Based on Mike’s list he eliminated any chance of a partner anyway.

5

partnerships spread risk, and limit any one individual’s exposure to problems.

i think there are alot of beneficial reasons for having a partner. i mean a business partnership is essential to many different businesses.

for the small business (rei businesses) - partnerships can be a pain in the wazzooo, but still, they can work when skills, money and commonality of strategy are strongly matched.

i’ve taken on a partner because of his construction background and commitment to a common investment strategy, as well as an equal matching of funding (he brought cash to the table).

i’ll take on another as long as it makes sense. but yeah, i keep seeing these and they really are preying on the new investor (us dummies)… :smiley: