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Updated over 9 years ago on . Most recent reply

Account Closed
  • Investor
  • Harvard, ca
15
Votes |
38
Posts

Vetting potential partners without revealing deal details

Account Closed
  • Investor
  • Harvard, ca
Posted

As a Solo 401k investor, the LTV requirements for non-recourse loans is putting a current possible deal for me a bit out of my price range. There is a lot of opportunity in a particular property I've been looking at, and I don't want to let it slip away but it's pushing the limits on what I can afford or am willing to put in - leaving very little room for extra capital needed for extra rehab/holding costs that may come along.

I thought this would be a great time to partner on the deal I'm curious how to go about sharing the details of a great deal with someone I don't know. What would keep an unscrupulous individual from stealing the deal once they have enough details to find it? I know most of us here at BP are stand up folks but sad to say, I've learned the hard way many times, to default to a defensive stance.

At some point I know I would have to reveal enough of the deal to make the potential partner comfortable to agree or not. 

It seems a bit like a hostage swap - at some point you just need enough of a comfort level to let it go and trust the other guy to not be a dick.

Thanks for any advice you can give on this matter.

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