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Updated over 7 years ago on . Most recent reply
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Why partner vs going at it alone?
I own 1 multifamily property that I purchased/financed on my own. I'm currently in the process of saving up to purchase another similar property (which has been a slow process so far). I've thought about getting that next property sooner by partnering, but I'm not 100% sure why I would want to do that. What is the benefit of partnering to purchase a buy-n-hold vs going at it alone?
Sure I will need to contribute less money in a partnership then I would on my own, but the wealth building benefits are also diluted. So while my snowball that I'm building gets a little bigger owning 50% of a property vs sitting on the sidelines, if I save up to do it on my own, that snowball gets a much bigger boost.
Most Popular Reply
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Ryan Moore - with a partner you can do more deals in a shorter amount of time. You have two heads to think about problems rather than one. Also, you have someone to share the risk with.
Like they say 50% of one deal is better than 100% of no deal.
- Craig Curelop
- [email protected]
- Podcast Guest on Show #350