California Rehab and Rental Partner Suggestions

[Jonathan Boek]

Hi everyone,

As a fairly new investor in California looking to primarily focus on buy and hold Real Estate, I find myself looking at some potential good deals that are a bit out of my price range.  I would like to take advantage of some local rehab and wholesale opportunities to fund future endeavors, but am currently in the process of saving up enough for a down payment, holding and closing costs, and possible loan fees.  As a way to expedite this process, I've been thinking about possibly partnering with some local investors on a rehab or two and splitting the profit.

I'd like to get the take of some of you out there who have had experience in these type of transactions.  What are your stipulations for a partnership?  What do you look for in both a potential partner and deal?  Are there things you wish you would have known/taken care of in past experiences?  I'm sure there are others out there, along with myself, that have these same questions, so any tips you might have would surely be appreciated.  Thanks in advance for your suggestions.

All the best,

Jonathan Boek