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Updated over 7 years ago,
Partnering for a first deal?
Hey all,
I was just curious what some of your guidelines are for finding a partner(s) for deals and for any new investors who went in on their first deal as a partnership, what it looked like: did you partner with a close friend, family, someone here on BP? Anyone partner with someone for a first deal going out of state as well?
I'm just trying to get more advice and information because a partnership (where I can provide more support on the financial side) seems more viable for me at this point in time. I know many will recommend that I close deals on my own starting out, then seek out a partner, but don't a lot of people partner starting out as well?
I also know that doing business with close friends and family is risky in the sense that relationships can be soured and ruined if anything goes wrong with the deal, etc. Obviously, I could ask any of my friends and family but I'm assuming it's probably not the best idea to go with the first person who says "sure, let's do it"
Just wanted to get some pointers on navigating this particular area. TIA!