Partnership??

[Craig Vandenberg]

Hey all!

The big question..Do I partner with a friend to begin Investing? I am doing a lot of learning/research/networking to develop my goals and business plan. He has a construction background, with a lot of contractor contacts/relationships. We would both put capital in. I would focus on finding the properties and the exit plan, and he would handle all the rehab, from estimating to finish. I am working full time currently so I have limited time and he is self employed and much more free time and flexibility. I know there probably many more details needed to give me some good advice, so please any questions or comments would be very helpful. Thanks!!

[Wade Sikkink]

Spell everything out in writing before starting. The surest way to turn a great friend into a mortal enemy is to get into a business deal that goes sideways. When things don't go exactly to plan, peoples emotions start to rise and having money at stake only makes it worse. It's easy to think that you're tight and this will never happen, but it does. A lot.

Spell it all out now while everyone still feels good about the opportunity and you will save yourself a ton of headache later. Just my $0.02.

Good luck.