Finding a partner for a deal

[Justin Lee Taylor]

What is some good advice when approaching someone to partner with me? I found a Quadplex but loans won’t approve since I just graduate college and I don’t have a ton of money down so I’m looking for a partner to help finance the deal

[Joe P.]

Originally posted by @Justin Lee Taylor:

@Joe P. I’m looking to house hack where I manage it at first I would love to scale upwards but starting off I think that’s the best route

So you're an investor with no money.

Understand what I'm asking, and its not to be rude, but to be realistic. You want to partner with someone...to fund YOUR househack, so you can get on the job training on how to manage a property and tenants?

I admire you for wanting to start as a young man and get into the game -- I wish I had done that. But why not focus on what you bring to the table? Can you fix stuff/rehab? And can those items be rehabbed by someone who is not licensed (assuming that's you). What's your debt like? Why don't you have money to invest? Do you have loans? A job?

Think about yourself first and how you could put yourself in A) the best position to succeed and B) what you could bring to a partnership, if you truly needed to.

Or, maybe try househacking on your own. Why not save up for a FHA mortgage on a duplex or a house with many bedrooms, and try your hand at landlording with that?

The point of this is not to discourage you, but if I'm looking to partner with someone, and they don't have any money, they have to DO something, and show me how I (as an equity partner) would get my money back (and how quickly). See what I mean?