How do you feel about partnering with other investors ?

[Andy Ramdeen]

Hi my name is Andy ,

I live in nyc , and I was just wondering what do you guys think about partnering up with another investor to buy a house and flip a house together and then split the profits ? I don’t own any real estate but I wanted to know if this was a good way to start and learning and get a more hands on learning experience .

[Jack Medford]

I have benefited tremendously from partnerships. My first buy and hold was with a partner because I was a little too nervous to pull the trigger on my own. Then, once I had the confidence I went out and purchased my own duplex and rehabbed it. Then I ran out of money. I found another partner who was interested in what I was doing who had capital, so we teamed up to keep the deals flowing. 

I went from 100% ownership in a duplex to 50%. However, this led me to two more deals (5 additional units) that I would not own if I hadn't partnered. 

As much as partnerships have helped me, just make sure you are picking your partner wisely! It is like a marriage and can fall apart and get ugly if you choose the wrong partner.