Questionable business partner...

[Robert Wentland]

Hey everybody, I have a bit of a dilemma I would love some input on.

I'm a beginning investor. I actually just closed on my first two unit property. Now that I'm done with this deal I'm looking forward to the next. After buying this rental I've realized that I can't continue to buy rentals without building more capital, so now I'm going to do some flips. Here's where the dilemma starts.

I've been struggling to find a partner in my area to go in with me. Everyone seems to want to see me do one successfully before they partner with me.

A coworker of mine heard that I was looking for a partner and has said that he's interested in doing this with me. I would be very excited to have found someone but in my experience this guy has not been a man of his word. It's really all been little things like him bailing on plans we made without telling me, or telling me one thing and a different coworker another thing.

I think with money on the line he might be more reliable, but I'm struggling with the decision to team up with him or not.

Any insight on the situation would be greatly appreciated.

[Gary Headrick]

One of my guiding thoughts has always been "when in doubt - don't". Yes, I have missed some decent opportunities but I have also found that errors of commission hurt more than errors of omission.