Partnering or being used?

[Daniella Ortiz]

I was offered a gig with a more experienced rei...he said I would do the marketing (find the deals) , bring them to him and he would find the money from another rei to renovate the property and Sell it.  We would probably split 80/20.  I am not sure this would be very helpful to me.  I would do the grunt work but what would I be learning from him? 

What do you all think...how did you get started? I have some money to invest but I don't qualify for a loan due to a spotty work record because I went back to school. Should I find a wholesaler, buy using hard money and then search craigslist for a few handymen to renovate the house and flip it myself? Ideally I would rather not start my rei career with flips, instead I want to buy a duplex w a FHA And live in it. I can't do that because I don't have the work experience needed for the FHA.

Please share your advice

[Ned Carey]

@Daniella Ortiz  You are kind of comparing apples to oranges. In the first example you are flipping houses and in the second you are trying to buy and hold for income. 

A partner or mentor can be great but it depends on the partner or mentor. Some are good some are bad some are just trying to take advantage of newbies. Try it out it doesn't have to be a lifetime commitment. If it doesn't work out learn the lesson and move on. 

My advice learn what you can and keep moving forward. Go to investor meetings, read here, and listen to the podcasts. Look at lots of properties to learn your market. Learn to evaluate deals. And as I said keep moving forward.