To partner or not to partner

[Justin Kramp]

I have a friend who comes from money but due to not having a job (living the good life) he can’t get a loan. I have good credit, a job, and can get a loan pretty easily.

We both want to get into BRRRR and he can provide funding for downpayments, rehab, etc before refinancing.

Neither of us can do it alone and need each other’s financial “perks” to succeed.

From experienced investors, what are your opinions on partnering for a deal like this and splitting profits, seeing if it all goes well, we tackle another?

Thanks!

[Will Fraser]

Hey @Justin Kramp, this is a pretty cool situation for you both IMO.  I'd say smart with a small project together and see how it goes.  Be specific about each person's role and responsibility and grow from there. If #1 goes well then have a debrief session and then roll into #2.  Keep rolling it up as long as you both agree and enjoy.