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Updated almost 3 years ago,
Best strategy to find partners who aren't family/friends
Hello, I am working to scale my rental property investing and am looking to get in contact with those who would be interested in partnering on a future a deal. I have tried a few places online, but of course it's hard to build trust with a stranger, especially when they are proposing an idea that involves "giving" money.
I believe the actual terms for the partnership are very favorable to the partner. How it would work is I would find the property, run the numbers to make sure it's solid, vet the property management/contractors, and handle issues when they arise. The partner would be responsible for the down payment and closing costs. But we would structure it so that the partner would receive 70 percent of the net cash flow until they recoup their initial investment, at which point the split would revert to 50 - 50. I have a pretty decent pitch deck made and I suppose I could send it to people in my family, I don't want people to partner with me because they feel like they have to.
My "target" partner is someone who is comfortable with the idea of real estate investing, preferably already wanted to invest in real estate, has at least 20k they are willing to invest, doesn't have the time or desire to sift through all of the properties to find a deal, and wants to take a more passive approach to real estate investing. Do you have any suggestions? Thank you!