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,

[David T.]

Sorry that you see it that way, Damian. However, if you understand how to control the deal strategically, you don't have to trust anyone.

An experienced Rehabber is exactly that. Competent, honest, savvy, has a track record for getting the job done, etc. Someone who shows you the flip side of flipping and works for the relationship as much as the financial rewards.

Those people are out there. you just gotta find them. Easier said than done - of course!