All Forum Posts by: Ari Zartarian

We work really well together, and having multiple partners allows us to delegate responsibilities.  For instance, my partner is responsible for the management of the flips, and I manage all of our rental properties.  This allows us to diversify where we invest our money, and we defer to each of our respective areas of expertise.  We plan to continue to work together, but I have also invested on other multifamily projects with other investors.  Working with partners also allows us to invest in larger projects that we wouldn't have, individually, been able to finance.

Thanks Russell!

My first flip was about 2 years ago.  A guy that I was looking for apartment buildings with introduced me to another young guy that was just completing his first flip in Ferndale, Michigan.  We went and looked at his completed product before it hit the market and decided that we would be interested partnering up with him on a subsequent flip.

The three of us found a single family home that was bank owned in Clawson, Michigan and decided to all three purchase the property together.  My friend and I were inexperienced when it came to flips so we deferred to our new partner, and we financed the repairs.

We split the profits after all equity was returned 30 30 40, 40 to our new partner.  In the end, we sold the property for about 40% more than the purchase price plus renovation costs and were all happy.  Since that first flip, we've done 5 more flips together, and have structured the deals more equally since, but still paying our partner that facilitates the flips a set "contractor's fee" upon every sale.  We've also purchased three apartment buildings as a trio as well.  We all bring a different skill set to our partnership (our flip partner is an architect, I'm an attorney, and my original partner is an accountant) and it has continued to prove productive and lucrative.

Hey Everyone!  I'm new to Bigger Pockets and just wanted to post a friendly introduction.  My name is Ari, and I'm a private investor living in Birmingham, Michigan.  I've been investing in real estate for about 4 years and have a portfolio of apartment buildings and single family rentals in the metro-Detroit area.  I'm looking for more deals and have hooked up with some investors that have provided capital on some past deals and are looking for more deals to partner up on.  

I'm looking for new opportunities in the metro-Detroit area and to meet other like-minded investors.  

Hey Henry!  I, too, am a U of M grad, then went to MSU for law and have been focusing exclusively in real estate investing since graduating a few years back.  I live in Birmingham now, and have purchased about 7 single family homes in the metro-Detroit area that I've flipped, and am now up to 6 apartments buildings that I've purchased with partners.  They're all small buildings, ranging from 4 units to 12 units.  I am constantly looking for new deals and manage the portfolio I have with my partners myself.  I just wanted to reach out and say maybe we can do some business together if the right project comes along.