Apartment Building Deals!!

[Ethan Morgan]

Hey guys,

Long story short, I'm currently partnering with a friend of mine who has access to money but not a lot of time. I, on the other hand, have access to a lot of time but not enough money.

I told him I wanted to invest in real estate somehow, and he talked me into finding apartment buildings for sale that produced X amount of cash flow and obviously him and a few other associates would fund it.

Fast forward like 3 months and I have pages and pages of potential deals that cash flow anywhere between $8k-$11k per month and I keep telling the broker, "Let me talk with my partner because I really like this deal." However, my partner is not as punctual as I'd like for him to be. I'll e-mail him a copy of the analysis I've done for each one I think would provide the most cash flow, even during the low months and he'll get back to me on it. And I wait days, sometimes a week and I'll ask if he's looked at any of them yet and he'll tell me he's been swamped with work. I've gone myself to look at some of these properties, talk with these brokers face-to-face and am ready to pull the trigger at any given moment once I get the green light from my partner who's funding the deal. But it just seems like I'm sitting and waiting rather than getting this stuff done.

Any tips? Should I remain patient or should I have concern that this process is taking way too long and maybe try to start finding other people to partner with?