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Updated about 5 years ago,

User Stats

174
Posts
157
Votes
Dustin Mathenia
Pro Member
  • Flipper/Rehabber
  • Dallas, TX
157
Votes |
174
Posts

How can I stay in this deal?

Dustin Mathenia
Pro Member
  • Flipper/Rehabber
  • Dallas, TX
Posted

So I am in DFW TX. I recently sat down with 2 guys who are very interested in getting involved in real estate. They know I have flipped a few houses and told me they the would like to partner some how, which I thought was a great idea knowing they have a good amount of money. After talking to them about what I do (which is maybe 2 flips a year. Far from an expert) it was pretty clear they had no knowledge of real estate...like 0% (they moved here from China maybe 3 years ago). Basically they wanted to fund my deals at 7% and do a 50/50 split. I explained I don't need the money I can get money at 12% and it's not worth half the profit for supplying just the money . Then they told me they have plenty of money and want to build a multi family apartments...(I'm listening lol)...I, still being a newby have never done new construction of a multi family property told them I would find an expert in that area and we could all sit and talk about it . So my question I guess would be after I find this person how do I bring them together and stay in a deal if one is made ?

  • Dustin Mathenia
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