What are your thoughts on having multiple partnerships?

NOt just your cash and their brilliant Ideas you have the makings of a true beneficial partnership.

Hi John,I grew up in Woodstock but now live in Canton, GA.So that you connect with the right group it might help to talk about your experience level and if none how much cash you have to start.That will dictate to an extent what you get started with.Example a small group meeting about forming a partnership and buying a 5 million property wouldn't apply to someone with no money, experience, or credit.If you have money but no experience you can still be a partner etc.

What do you find most valuable here--Vast pool of experienced investors-Being able to network with local and distant investors-Create partnerships-Learn from others mistakes and successes-Ability to help others-Generate new ideas-Or something completely differentI am still amazed that such a great site exists w/o any pushy sells products and numerous helpful experts that log on each day to help others.

Garrett Sutton has some decent books on LLC creation (e.g How to Use Limited Liability Companies & Limited Partnerships) .. .and the more you know about where you want to be, the less time you will spend on legal costs covering things you should have already explored.I am all for legal advice.... just pay when you really need it, rather than for general information.

Having a business partnership/relationship is serious.

Don't ever put numbers in writing to give to them to walk away with, that can be construed as a guarantee or representation.When speaking to others I'd say "your money" not your investment or shares, those are security terms, avoid making your deal sounding like an investment or partnership unless they are really going to be a partner by agreement.You'll also find that a much lower key or under the radar ad that informs rather than pitches will be more successful with those with money, if it looks like you're making a claim as to some return, most likely it will go to the trash quickly.

If you plan on implementing a buy-and-hold strategy it gets a little more complicated, as everyone would have to be in agreement as to when the portfolio will be liquidated (and the future market may make this more difficult than you forecast, always be aware that there are many variables in play and you should have MULTIPLE exit strategies) or how the cash flow will be split once you move and can no longer be as active in the property management as your partners.Be sure to discuss what elements will be included in your Operating Agreement, and what business structure you plan on using (partnership, LLC, etc).

I'm also open to partnerships on projects that may be to much for one person.

Are they getting equity or cash each month, also how many partners did you have on this deal.I guess since I'm on the subject how does your partnership work in regards to this property, do you get to make all decisions or do you have to run it by your other partners.Great info by the way, which I first should have pointed out, and again thanks for sharing.