Long Distance Partnership

[Joaquin M Dugan Jr]

Good morning BP, my name is Joaquin Dugan. I am a newbie investor out of the Dallas, TX area. My focus is on properties to BRRRR and rentals OOS or locally primarily and to gain more knowledge in the process. As most investors or future in investors here. I see they all lack the capital to begin their investing journey. So I had a question for those who are more experienced or has already started. Has anyone every partnered with anyone else on BP to both get their investment careers going and also aiding with needing as much capital to begin?

[Jody Sperling]

Joaquin,

I didn't start out on BP looking to partner with anyone, but through reading, replying, and posting on the forums, I've connected with a handful of people, one of whom I'm now in discussions on partnering with. He has access to less capital than I do, and hasn't yet purchased his first property. I only have one property, and it isn't quite ready to rent--we're still renovating.

Both the other guy and I will need to explore what strengths we bring to the table to ensure we mesh well.

Partnerships add new risks, and I wouldn't consider partnering with anyone unless I felt very comfortable about who they were as a person, their level of integrity, their work ethic and their character. Flipping or wholesaling could make sense with a partner I knew a bit less about, but anything where holding property for the long-term is concerned, I wouldn't do without months of getting to know the person first.

Unfortunately, there are plenty of people using BP for their own gain. I would say to treat anyone on here the same way you'd treat a stranger off the street to start with. I've had a few interactions with people who are very pushy and way too eager. Those are big red flags.