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Updated over 4 years ago on . Most recent reply

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Junior Shay
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25
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Looking for a reliable partner to invest with

Junior Shay
Posted

Hello fellow investors. I’m located in upstate New York and currently closing on a fourplex our of state which is my first investment property. I’m currently looking for anyone that might be interested to pursue real estate journey as a partner/partners or possible business entity. I’m trying to dive In this industry as a full time but as a single investor it’s not as easy as it sounds. If anyone might be interested feel free to reach out and we can arrange a zoom call and get something going. 

Thank you! 

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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,417
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied
Originally posted by @Junior Shay:
Originally posted by @Joe Villeneuve:

Why do you need a partner?  What specifically are you looking for in one?  What do you need them to do...specifically?


To invest jointly. 2 credit scores, 2 minds, 2 sources of income. More opportunities 

 So you need a financial partner.  Why not just have this other "person" be a private lender to you?  There are only 3 reasons to bring on a partner, and the partner(s) MUST fall into one or more of them, or the partnership will fail.  The partner(s) must:

1 - Do something you can't do
2 - Do something you don't want to do
3 - Do something you shouldn't do.

...with no redundancies.  Just adding more money will add just as many problems if along with that money you are hoping they are adding additional "minds".  That means they will have a say in what happens.  What qualifies them to be able to do that?  What knowledge or role will they be filling (prop. manager, rehab manager, analysis, closing/negotiation, etc...) to earn the right to say what happens, and influence decisions?  Putting money in, doesn't give them that right...or it shouldn't.  That's why I say just use them as a private lender.  They will be looking for their money every month, but not be looking over you shoulder telling you what to do.

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