Looking for info on getting money partners

[Travis Nagler]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

So I'm looking at this deal, with conservative rent income for the area based on 4-2BR and 2 studios in the building ($700 and $400, respectively). I like it and, after some more due diligence by my realtor in the town and some pictures/info on the interior, provided everything looks good, would really like to put in an offer. My calc offer price is just a little below asking, but it's been on for on the market for almost 2 months. I would start less than the report says, and work my way up to that, if needed.

My question/problem is this. How do I find a partner to come in with the down payment (25% down) for 50% of the cash flow? I've been a real estate agent for 8 years in California, so I know the business, but this will be my first investment property. So it's not the deal I have a question on, it's the money relationship.

Actually, there are two of these buildings and I would like to buy them both.

In my experience, I can't put in an offer until I have the POF to go with it for the seller to show basically that I'll be able to close. But how am I supposed to get a money partner if I don't have the deal in contract?

Any help would be appreciated.

Thanks,

Travis