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Updated over 7 years ago,
Any tips for someone going into a partnership?
So i went to a meetup for the first time last week. Learned a lot, but at the end I talked to the guy putting it on. He wasn't really spammy throughout the conversation but I found out he has done a few partnerships for flipping to get people started. He seemed like he really knew his stuff, spoke the bigger pockets language (which I checked and it doesn't look like he's one of "us"). His investment company is here:
http://www.homesforthewin.com/
He's said he has done over 30 flips in the last three years but I don't really know if I have a way to verify that. There was another guy at the meetup who said that he's doing a flip with the meeting leader in San Antonio, an hour or two away from where I am in Austin.
I asked him about his teamups and he said he can do them however I'm comfortable. I could find a property and he could pay a wholesaling fee. I could pay for the whole thing and we could split the profits and I could see how he does it directly.
It's *exceptionally* difficult to get into Austin flipping without someone helping you out. Too many variables here. I definitely don't want to get into a bad situation. Any advice?