Should I Buy Alone or With a Partner?

[Matthew Poff]

I am somewhere between a veteran and newbie when it comes to real estate investing.  I started investing in 2012 and have owned 3 different rental homes (5 total units) at one time.  I am currently looking at purchasing 2 properties as a package deal.  One is an 11 unit building and the other is a 2 unit house.  Currently 7 of the 13 units are ready to be rented and the others need a little work.  

I can purchase the property for 7.5% down at 6% interest for 5 years at which time a balloon payment will be due.  My question is whether or not I should bring on a partner for this deal.  All in all I will need about $75,000 to buy and fix the property (which I do have with about $20,000 in reserves as well).  After all expenses (mortgage, taxes, ins., cap x, vacancies, etc) the property should cash flow about $1,700/month.  I have some experience and also know some construction.  My partner has pretty deep pockets but would still want to split everything 50/50.  I should also note that he owns a drywall company as well.  I am pretty well connected with repair guys, etc so honestly I would only be bringing someone on to split the burden...financially and otherwise.  Any thoughts would be greatly appreciated.  

Thanks!

[Matthew Paul]

You cant have a disagreement with a partner if you dont have one .