Finding a partner to finance the downpayment

[Dominic DeVitis]

Hello BiggerPockets Community,

I'm just starting my journey into real estate, and I'm facing a bit of a dilemma when it comes to choosing a partner for my first deal. I have a few connections in the real estate world who have more experience and success, but I don't have a particularly close relationship with them. On the other hand, I have some close friends or connections who I trust, but they're relatively new to real estate investing.

I'd greatly appreciate any advice on this decision. What should I prioritize more: the experience in the market or the character and trustworthiness of my potential partner? I appreciate all and any advice

[Brian Cauldwell]

Hi @Dominic DeVitis!

Be careful in partnering with real estate. Real estate, at least if the goal is to rent, is a long-term commitment. You and whoever you partner with needs/wants may be different 5, 10, etc. years from now. 

My cousin is currently undergoing the process of removing his partner from his real estate because he was stealing money from the business. They grew up together and were best friends for many years. 

I always suggest to my clients, if you can find a way to do it by yourself, there will be less headaches down the road.