Tips to find equity partners?

[Gabe Goudreau]

Could anyone share some tips on finding equity partners for small-to-medium (5-20 units) value add multifamily investments? Should you find these partners before you have a deal on hand, or should you find an opportunity and offer a partnership with returns projected after an analyzation of the property? I have heard stories of newer investors partnering with individuals with more capital by having the partner put up the money for acquisition costs, while the newer investor is responsible for any rehab and property/asset management associated with the project and the equity of the property is split 50/50 or 60/40. Is this just a rare occurrence, or would I need to be considered "experienced" to pull something like this off? For some background on me; I have not made an investment yet, but I have basic skills in apartment unit renovations, multifamily underwriting, and a small amount of capital to deploy. Loaded question(s), I know, but I would any insight - thanks everyone.