Real Estate Investment Tips and Strategies: Profiting from Partnerships
What is holding you back from doing more deals right now?
Lack of money? Lack of credit? Lack of Knowledge? Or lack of an effective real estate power team?
Well, if you can’t beat em’ YET, join em! Whatever it is that you need to get a deal done, there is somebody willing to provide it and partner with you. If you have a great deal you are working on, there is absolutely no reason you can’t get it done! Get involved in your local real estate investing groups. Affiliate with the real players in your market and get some real deals done together. Half of a great deal done is much better than keeping 100% of a deal that never closed!
We often partner with investors in our market who need various loose ends in a deal tightened up. Cash, Credit, contacts, etc…and we get it done. We actually closed on a deal today that we partnered on that is going to turn in to a “win-win” for everybody involved. We bought the property for approximately 250K, with some favorable terms, and are planning to lease-option the property for around $340k. It doesn’t need much work and the holding costs will be relatively low, but the seller did need some money ($20k cash out at closing) to be able to sell it and move on. This upfront money was provided by one party and the deal was provided by another and a profitable partnership was born! A similar situation is happening in your market as you read this.
So, start building your list of investors in your area immediately. Figure out what their expertise are and what they can bring to the table in a transaction, then play the matching game when you get your next deal. Figure out what investors would be the best fit for you to start working with. Now all you need are some deals!
So, get out there and get something under contract!
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Patrick Riddle:
Dusty Keefe: