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Updated almost 2 years ago on . Most recent reply
Getting a Partnership/mentor in my neighborhood
I know one of the ways to get a mentor is to provide value.
There is a couple in my neighborhood that's in their late '60s early '70s and they have a portfolio of about 10 properties. (Apartment buildings/ corner mom and pop shops).
I am not for certain about all of them, but the three that I've checked so far are in poor condition.
I would like to work something out with them where I can help fix up their property and share profits and selling them if they are considering selling off...
I've been saving money for a quad-Plex, But it's like every time I blink the price rises (Miami Market).
Does anyone have an idea how I can set up a structure a deal like this? Is there a industry term for this kind of deal?
I would like to approach them at least knowing how it could work...
Ideally, I learn something along the way of the process and make a little money..
Most Popular Reply
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@Frank S. I agree with everything Andrew said. Build a relationship with them. At thier age they can see right through any B.S. Let them know that you would like to be where they are someday and ask for their guidance. They might ask you if you would like to buy the properties they own. Make it a win win and you will be rewarded and so will they.