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Updated over 7 years ago,
Partnership.... goal for now to acquire a 50-100+ unit building.
Hi guys, what would you guys suggest if you were in my shoes .. I need some help !!!
I and my fiancé's brother would like to partner up and start seriously investing in real estate .. our goal for now is to get a 50- 100+ unit building and than build from there .. even if it is out of state.
A little back ground:
Fiancé's brother: is 21 years old works a full time job.. has 4 multi family properties and (2 of them being free and clear ) very smart kid and is a work horse !
Me: i also have a full time job, fairly new to real estate, I have 2 multi family properties with pretty awesome cash flow and I'm the process of getting my 3rd one which I am getting a good deal on and it's expected to have great cash flow as well. Eventually I would love to some day quit my job and invest full time.
Both of us have excellent credit (mine in 750+, his is 790+)
As of now we have $150,000+ cash available + equity.
What would you guys do .. what would be process ... use our equity + our cash to invest in larger number of units buildings ? Get private loans ? How do we find deals out of state ?
Thank you in advance!