Joint venture partnerships with debt?

[Natalie Rose]

I just bought my first property a few months ago, the main floor has been renovated and we are now about to finish the basement into a legal suite. The plan was to get that done and then pull the equity out to purchase the next property but I’m already getting so antsy to have more properties and I see/ hear of all these people scaling way quicker than that! The rate I’m going I’m looking at maybe 1 house per year.

My question is this: if I have debt currently, is it really a good idea to pursue finding a joint venture partner? (I would be working side of partnership as it is the money that I need to finance more deals). I see both sides- if I bought more deals now, it would help me pay off my personal debts quicker by attaining cash flowing properties or doing flips. But I do see the other side being that I don’t have anything other than the ability to do the work plus I have debt.

If anyone could shed some light that would be great! I’ve been researching since December but mostly regarding getting my own financing. Im slowly realizing I may need to work with partners to get where I want to be quicker.