What do you think of this possible partnership venture?

[Aaron Yates]

Hi everyone. As some of you may have seen, I attended my first REIA recently. I need to expand my network and connect with other REI's. So time finally allowed me to go.

While talking with people, a seasoned investor gave me a proposal after telling him a little about my ventures in Real Estate and my current holdings.

Ironically his proposal was the exact partnership I had planned in pursuing. I was speechless. I just stood there like a deer in the headlights and though "did he really just offer that?"

So finally I responded and said yes! That's exactly what I planned to pursue after building a rapport with the group.

Now, although I have only been active in REI for technically 4 years but only heavily the past 2. I have taught myself to do extensive property history research starting back in 2003.

I have bought a total of 6 houses since then and not a single one has been found by using a Real Estate agent. So I have multiple ways of checking property history. (this is relevant to what I'm about to tell you and will bring me to the question in my topic title)

So I finally had some time to look up the property information he gave in regards to some properties he already owns but hasn't had time to rehab and rent.

All the properties have 3 years of back taxes owed, various tickets issued, city clean up/board up fees, and all are tagged and require city certs now. I have not physically seen any of these properties yet. I always do my history research before wasting any time driving to the property.

I have my own opinion of this situation but before I saying anything, I would appreciate any thoughts you may have in regards to this (very seasoned) persons intentions of offering a partnership or even me buying them from him on wholesale.

The question is this: What do you think of this possible partnership venture and what do you think his intentions truly are?

Thank you for any responses.