Partnerships

[Damian Smith]

I have always had a passion for real estate investing and I am glad to finally be in a position to really make a go of it. I have a major constraint in that I only visit Minneapolis for a few months a year (hoping to make the move permanent in a year or 2) so starting a business and not being there to run it is a concern. The good news is I have unencumbered capital to invest

I have decided that given my situation it would be best if I sought out partnerships. The initial plan is to partner with budding wholesalers that don't have the capital to start out. My thinking is that the people I partner with get a chance to enter the industry with a good marketing budget and I get the opportunity to invest in a business at ground level. Also, these partnerships could be done in any state so I get more diversity of markets.

The second part of my strategy for now is to do joint ventures with fix and flippers, where I finance the project and they do the work. I only go back to Minneapolis in June so I'm hoping to network with fix and flip partners in the MSP area so long.

Thoughts and critique are most welcome,