Finding a partner to flip a property

[Jerryll Noorden]

All Where on BP can I find a partner to flip a property? I believe I got a property at an incredible price.  The profit would be 50 to 60K

I rather not wholesale such a great opportunity. I can bring the deal, if someone finances the entire thing we each could make 25 to 30K.

I just have no idea finding such a partner. Any help would be really appreciated.

[Jerryll Noorden]

Originally posted by @Bill Baldwin:

Originally posted by @Jerryll Noorden:

Originally posted by @Account Closed:

Jerryll,

If someone put up all the money, they be wanting 70% and give you 30% because you have no skin in the deal.

Brandon does deals where he finds the properties and his partner puts uup the money and they split profits. It is 50/50  or nothing . finding good deals is not easy and I have significant money invested in marketing to find these deals.

 Why are you spending significant amounts of money in marketing to find the deals if you then don't have the money to act upon them? Agree 50/50 may work as an equity partner with someone proven who you can trust, but investing all that money inow a total stranger is a difficult sell. 

 No worries. I have found someone willing to partner up. "significant amount of money" = about 2K - 2.8K per month. To act upon these deals I would need 60K (acquisition) + 36K (repairs) = 100K.

So that is quite a difference between significant amount for marketing and acting on the deal  myself.

You absolutely have a point. There needs to be trust. But I never said "yo blood gimmie 100 geez ma homie lemmie try to make some doh". All I said was looking for a partner to work together. So, if they want to handle all the flipping and contracting and camp on the grounds to oversee the whole thing, oh heck yeah. Absolutely. I am not even asking for their money. They can handle all that if they like.  I simply am looking for someone that can use my skills to find good deals, and I can use their infrastructure to flip a house and we both walk away a tad bit richer.

As of now I am hoping to have a property signed for about 71K and ARV = 210 while repairs will be about 32K.

Once I get this (I hope I will) I do NOT want to wholesale it. Not going to make that mistake again. I want to flip it, and make something more substantial.

It took me several months of marketing to finally start getting deals. If I knew it would take 4532 postcards to get this deal sure then it is no big deal. But I market, and pump money every month not knowing if it will result in a deal or not, and keep doing it month in month out. The money spent, the drive, the motivation the effort, the hussle, the risk, the nerves, the not-giving-up, the time put into it not knowing for a fact something will come out of it... heck, the angry calls, the racists bastards telling me to go back to "italy", the asking why they can not speak to Dixie (my super hot partner) calling me fake, asking me where I am from because anyone in the USA with a foreign accent is either a terrorist or a scammer.. this is the fact of doing marketing being me...

If anyone doesn't think this deserves at least 50/50 I will happily tell them to shove their uneven split up their butt and let them find their own 66% discount deals themselves. Yes you read it right. The property I found I got for 33% ARV! The next one I am about to sign is similar!

So either they can take the deal and split 80K with me each getting 40K, or they can walk away pissed and I will split that 80K with the next investor with a bit less greed and more brains!

Yeah I am tired and sick of wholesaling. But there will be good news tomorrow!! You will see. :D