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Updated over 11 years ago on . Most recent reply

User Stats

72
Posts
8
Votes
Dominika M
  • Homeowner
  • Brampton, On
8
Votes |
72
Posts

Vetting potential partners

Dominika M
  • Homeowner
  • Brampton, On
Posted

Hi, how do you check out potential REI partners? There's a starter article on BP
http://www.biggerpockets.com/renewsblog/2009/9/23/how-to-choose-real-estate-partners-and-the-criteria-to-use
which focuses more on whether the partner is professional.
I'm interested in further details, especially in vetting from afar. For example, i may want to check out 5 people I see on BP before I go ahead and approach one.
HOw do you do a background check? Criminal?
If they have properties online, how do you check if they really own them? Ask for papers or is there another quick way?
There's a lot of partnering here on BP, so feel free to make this a full on guide. All us newbies are wondering.
Thanks,
Dominika

Most Popular Reply

User Stats

361
Posts
214
Votes
Albert Hasson
  • Investor
  • Paradise Valley, AZ
214
Votes |
361
Posts
Albert Hasson
  • Investor
  • Paradise Valley, AZ
Replied

My partner knew each other and worked in the same field for several years before we did our first deal together. Fourteen years and 75 or so deals later we are going strong with never a major disagreement. Partnerships certainly can work but I would suggest you get to know the person very well before entering into any financial arrangements.

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