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Updated about 9 years ago, 11/15/2015

User Stats

154
Posts
50
Votes
Eric P.
  • South Jersey, NJ
50
Votes |
154
Posts

Buying first investment property with partners to spread risk?

Eric P.
  • South Jersey, NJ
Posted

Me, my father and Uncle (Mr. money bags) are all interested in getting into real estate.  We all bring our own skills to the table, I'm computer savvy, able to find deals, and negotiate.  My dad is a handyman and my Uncle has a lot of capital.  We were all thinking of making our first purchase together, something small and cheap.  We figure by doing it this way it'll make it easier to learn and spread the expenses around.  Honestly my first deal I just want to get my feet wet and learn without getting discouraged if it doesn't go exactly according to plan. 

Obviously there's something to be said about doing it on your own so you don't have too many cooks in the kitchen, but what does everyone think about getting into your first purchase with others to help learn and cover costs?

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