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Updated over 1 year ago on . Most recent reply

User Stats

4
Posts
7
Votes
Cameron Hasselbaum
  • New to Real Estate
  • Bangor, ME
7
Votes |
4
Posts

Which comes first: the partner or the deal?

Cameron Hasselbaum
  • New to Real Estate
  • Bangor, ME
Posted

I'm new to real estate investing and don't have cash to put down, so I am looking for a partner to get into my first deal with. I found some deals on the MLS that look promising, but now I'm not sure which to do next. Should I be looking for a partner to finance the deal first, or be putting offers down first?

Most Popular Reply

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1,756
Posts
1,504
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Doug Smith
  • Lender
  • Tampa, FL
1,504
Votes |
1,756
Posts
Doug Smith
  • Lender
  • Tampa, FL
Replied

My Achilles' Heel has always been raising capital. Over the past several years, I've found that a lot of potential "investors" talk a good game, but get alligator arms when its time to reach for their checkbook. We've got several great investors that have come through, but for every one of those, there are a hundred pretenders that like to talk about doing something, but never pull the trigger. Make sure you can get the money before you pull the trigger on a specific deal...but what do I know. 

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