Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

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

How can I stay in this deal?

Dustin Mathenia
  • 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
  • Most Popular Reply

    User Stats

    6,241
    Posts
    3,800
    Votes
    Aaron K.
    • Specialist
    • Riverside, CA
    3,800
    Votes |
    6,241
    Posts
    Aaron K.
    • Specialist
    • Riverside, CA
    Replied

    You don't unless you feel like taking advantage of them, if you don't bring value to the table you walk away.  Now if you are willing to project manage or be the guy who gets permits etc. then maybe you could work something out but you'd want to hash that out with the builder.

    Loading replies...