How to go about finding like-minded parter?

Question

How are y'all going about finding trustworthy, like-minded partners in the LV? I am a new investor that currently owns one rental property in Northampton. I am looking to expand my portfolio whether in long-term rentals, STRs, flips, etc with a partner in order to better utilize funding, etc. From my understanding, most of those I know that are successful in this industry have partnerships or JVs in place. Are you all just going to local meet-ups, etc?

Angela M Alvaroe-Ciampo · Answer

Hi there Justin!

My suggestion on this is -

1. Figure out whether you are a visionary or integrator first & then find your opposite. "Opposites attract" is also true for business partners. You definitely want a "like-minded" individual but you don't want that person to do the same tasks as you or its all just a big waste of time. This comes from the book Rocket Fuel - buy it, read it, live by it, read it again, take notes. Pass it along to your business partner!

2. Find your local REIA & yes, go to events! Sign up. A quick Google search should lead you in the right direction.

3. Join a community - I am part of 3 communities - they help you grow & are there when you need something. Facebook & IG help as well, build your business pages, search for businesses of the same & different caliber & these business owners will assist you as well.

4. Learn how to be a Go-Giver - get the book - read it - employ it - use it every day of your life & see how being a Go-Giver can change your outlook. Don't just ask for something, try to give something first - a Joint Venture opportunity - cold calling for free - etc. It works!

5. Look up the Walt Disney story - Walt was the visionary who did not have his integrator for the beginning of his journey, he failed over & over. He realized many years after he started his journey that his brother was the integrator he had been searching for. After they partnered, the Disney legacy grew to its full potential. True story!

Hope this helped you out - Ciao for now!

Jonathan Greene · Answer

Your recipe for success is in going to in-person meetups, as many as possible. You have some good advice here. Be interested, not interesting and you will find friends who become future colleagues and JV partners. Just don't push it too quickly. Sometimes people are so hyped to get partners that they partner too early with the wrong people. 6 months of meetups consistently will give a huge springboard, especially since you have a property already that you can get advice on how to fine tune as well.

Matthew Sarro · Answer

I'm also just beginning my journey in earnest and I really appreciate the book suggestions! Thanks!

Matthew Morrow · Answer

@Justin Dziedzic I totally get where you're coming from. I graduated Northampton and most of our portfolio is within a few miles of there. Finding trustworthy, like-minded partners is key to growing your portfolio. Here’s what’s worked for me:I’ve had great success going to local meet-ups and networking events. I host the REI Partners Meetup, and its a fantastic place to meet potential partners. As well as learning / networking. There are several other groups around which are a goldmine for connecting with experienced investors and newbies (future ballers) alike. Plus, you get to learn a ton from their experiences. Lots of great groups out there. Don't underestimate the power of online forums and social media groups. I’ve found some great contacts on platforms like here on BiggerPockets and local Facebook groups.Educational seminars and workshops are also great places to meet potential partners. They attract people who are serious about investing and open to collaboration.And of course, don’t forget about local real estate agents and brokers who specialize in investment properties. They often have a network of investors looking to partner up. Our team specializes in this and no joke when it comes to helping people grow their real estate businesses. I should add, it's totally okay to be skeptical of others. Trust is huge in this industry and it swings both ways. Take your time getting to know potential partners, and make sure their goals and values align with yours. It took years for me to find the right fit with some of our partnership groups, but once you hit gold...game on. If you’re ever interested in chatting more or need some guidance, feel free to reach out. Happy to help.Cheers,

How to go about finding like-minded parter?

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