What qualities would make you partner with a inexperience REI?

[Account Closed]

For you to even consider partnering with a REI who's never made a single deal or had a property in his life, what would they have to bring to the table?

A great deal with great numbers?  A large sum of money to invest?  I understand that each person's situation is different and always changes, but I want to hear your criteria!

[Account Closed]

I would look at what assets they have vs. what assets you need.  After that, use the operating agreement to protect your interests and control in the deal.  At the end of the day, your experience should be rewarded with both increased equity and more control.  For example: 

You have a newbie with a hot deal and plan to invest 50/50 in the equity.

1. Maybe you still keep the investment amounts the same, but state that the ownership is 55/45 with the 55 being your share.

2. You retain control of the big ticket items:  Large capital decisions, refinances, dispositions, etc.

3. You take the time to really work with and educate your newbie partner.  Take your mentorship role seriously in exchange for your equity and control.