All Forum Posts by: Daniel Luedke

I'm bummed that I missed this one! I'll be watching out for the next one!

Thanks, @Ned J.!

Yes, I definitely think the family member has to be someone you would want to work with even if they weren't family. It's easy to see what you want to see when it comes to family but being on honesty with yourself about their strengths/weaknesses as well as the strengths/weakness of your relationship is of utmost importance.

Thank you for the advice, @Eliott Elias and @Alecia Loveless. 

What I have so far is that it can be done but roles should be clearly defined and a professional partnership agreement with viable exit plans should be signed ahead of time.

Sorry to hear about the hard lesson, @Alecia Loveless. Best of luck with the new partnership!

Thanks for the input, @Bjorn Ahlblad. It seems like spouses become involved or at least affected whether they are willing or not. Glad to hear your wife is willing and it is going well. 

I'm curious if anyone has experience partnering with siblings?

Assuming the family member you would be partnering with has applicable knowledge or skills (for example, is a contractor and knows the target area well) and both partners intend to treat the rental property as business and not a hobby, how would you feel about making a family member a real estate partner? Are you categorically against it because the risk to the relationship is too high? Or are there certain conditions that would make you open to it? Looking forward to hearing your considerations.