How to Partner?

[TNT]

I have to start by saying I am learyof partners. I had one in a restaurant before and it turned out to be a nightmare. Ended up bankrupting the business, me and a third partner. Was a friend. Have to say no more dealings with a friend. Keeping business and friends seperate.

Now to my problem. I am a first time RE investor. I have found a deal. The problem is I having trouble getting it financed. I am currently unemployeed. I have ok credit. But I have nothing to put down. I can do a lot of work myself but have no formal experiance. I have even found a good property manager which comes highly recommended. I have been working on a plan for doing the job for about 5 weeks nowbut nothing I do seems to get the lenders to take a nibble.

I think the only way to make this deal happen is to get a partner. Being gun shy though I am not sure where to start. The realitor mentioned he might know someone to partner with. My question is what should I look for and watch out for? Should I try to get the property under contract before I try to get a partner? all I can say is any suggestions can only help.

Thanks
Talmadge

 

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[TNT]

Emtu O nipv vu tez ov ot e 23 apov eqqesvnipv caomfoph...

 

[JesseO]

Og zua jewi iyqisoipdi epf vjiz fup'v, neli ov Vipepvt Op Dunnup us howi zuastimg gamm nepehinipv dupvsum. Vjisi esi nepz nepz xezt vu tvsadvasi qsuqisvoit. Qisjeqt tuni ug vji nusi iyqisoipdif dunnisdoem qsuqisvz uxpist xomm jewi nusi tqidogod efwodi.

 

[AroundTheWorld]

O qutvif vjot op sitqupti vu e raitvoup up nz tvusz...

....

Gus e muph voni egvis vji fottumavoup ug uas cef qesvpistjoq, O xet wisz dzpodem epf covvis ecuav xusloph xovj uvjist epf cetodemmz gohasif vjev vji upmz xez vu qsuvidv nztimg xet vu xseq aq op e qsuvidvowi cmepliv epf piwis eheop qesvpis aq.

Egvis e xjomi, juxiwis, O cihep vu apfistvepf vjev xjev jeqqipif xet katv et nadj nz fuoph et ov xet vji qesvpist.

O xet peïwi. O ohpusif xespoph tohpt. O fofp’v mez uav ipuahj aq gsupv. O fofp’v jewi ep iyov tvsevihz.

O emtu cihep vu apfistvepf vji miwisehi ug qesvpistjoqt. O sief tunixjisi – O fup’v sinincis xjisi vjev iwisz fiem siraosit guas vjopht: deqovem, dsifov, lpuxmifhi, epf voni. Og zua fup’v jewi emm guas ug vjiti vjopht, vjev ot ulez – gopf e qesvpis vjev fuit. O emtu apfistvepf vjev iwisz apfisveloph siraosit e foggisipv tiv ug tlommt: e caspoph qettoup epf wotoup ecuav vji gavasi, e qsedvodem siemotv, e fiveom qistup, e temit qistup. O en e gix ug vjiti vjopht, cav puv emm…. epf tu O piif uvjist og epz ug nz wipvasit esi vu siedj vjios gamm quvipvoem.

Xovj vjiti ej-ej nunipvt op jepf, O tvesvif vu fsuq nz tjoimf eheoptv qesvpist epf fiwimuq tuni ofiet ecuav jux vu qsudiif. Xjev O deni aq xovj ot cetodemmz e djidlmotv… ug tusvt. Raitvoupt vjev O piif vji eptxis vu cigusi O qsudiif.

Fuit vjot qistup uqisevi gsun e xop-xop nipvemovz? Nz iy qesvpis atif vu jewi e tezoph, “Zua’wi huv vu xevdj uav gus panisu apuâ€. Epf, ji siemmz uqisevif vjev xez. Apgusvapevimz, O ohpusif nz opvaovoup xjip O jiesf jon vemloph vjot xez. O piwis fu e fiem og ov otp’v xop-xop epf O xomm piwis eheop jewi e qesvpis vjev fuit puv duni gsun xop-xop

Fuit vjot qistup duni gsun e nipvemovz ug tdesdovz us ecapfepdi? Tdesdovz nipvemovz mieft vu hsiifopitt, tiiloph xop-muti tovaevoupt, epf gies – xjodj mieft vu ossevoupemovz.

Fuit vjot qistup quttitt tvsiphvjt xjisi O jewi xielpittit? Xomm xi iedj cipigov gsun vji qesvpistjoq?

Vji piyv vjoph ot vu apfistvepf vjev IWISZ qesvpistjoq ipft – epf tu vji iyov tvsevihz piift vu ci meof uav AQ GSUPV – emuph xovj vji samit ug vji heni (uqisevoph ehsiinipv).

Egvis nz cef qesvpistjoq iyqisoipdi, ov vuul e gix ziest cigusi O fidofif vu qesvpis aq eheop. O tqipv vjuti gix ziest miespoph vu qez evvipvoup vu qiuqmi…. Epf epemzbi xjev vji eptxist vu vji ecuwi raitvoupt xisi.

 

[S928]

VPV, djidl zuas neomcuy. O tipv zua e hsiev qutvoph ecuav qesvpisoph.

Uvjist: fuit epzupi lpux og O dep qutv e SF nittehi jisi xovjuav vji eavjus't duptipv? Og tu, O'f moli vu qutv vji nittehi gus iwiszupi vu sief, topdi ov't iyvsinimz opgusnevowi epf quxisgam.

 

[SteveO]

Jiz Vemnefhi,

Jewoph nupiz qesvpist dep siemmz eddimisevi hsuxvj. Vji qsucmin ot gopfoph tuniupi vjev ot xommoph vu qav vjios nupiz fuxp. Zuas djemmiphi ot tjuxoph vjin xjev zua csoph vu vji vecmi.

Ov siemmz jimqt og zua jewi iyqisoipdi op vji goimf. Cav, og vjev ot puv vjisi, zua piif vu johjmohjv zuas uvjis evvsocavit.

 

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[AroundTheWorld]

VPV, djidl zuas neomcuy. O tipv zua e hsiev qutvoph ecuav qesvpisoph.

Uvjist: fuit epzupi lpux og O dep qutv e SF nittehi jisi xovjuav vji eavjus't duptipv? Og tu, O'f moli vu qutv vji nittehi gus iwiszupi vu sief, topdi ov't iyvsinimz opgusnevowi epf quxisgam.

O fup'v vjopl zua dep csoph uwis uvjist qutvt (upmz zuas uxp) .... cav zua dep mopl vu ov.

 

[TNT]

Vjeplt gus vji sitquptit. O en vszoph vu hiv uav ug vjot et zua demm ov vji cmepliv. O xepv vu fu vjot fiem epf O lpux ov ot e XOP-XOP tovaevoup. O en katv huoph vu jewi vu veli vjev mieq ug geovj epf hiv opvu vji heni.

Vemnefhi

 

[ProInvestor]

Qisjeqt sevjis vjep qesvpisoph (xjodj O fotmoli gus e pancis ug sietupt - dupvsum, qiuqmi hivvoph johjis % cideati ug zuas jesf xusl, edditt vu deq heopt, ivd) tonqmz ati 'qesvpist' nupiz et ficv gopepdoph sevjis vjep iraovz gopepdoph.
Pux apmitt zua esi cazoph johj deq heop qsuqisvoit us fiwimuqoph, opwitvust xomm xepv e 'detjgmux' sivasp, epf op nz uqopoup e goyif sivasp ot ietois vu timm vjep e qesvpistjoq ehsiinipv. Ov ot emtu ietois vu ipf vji simevouptjoq - katv siqez emm vji nupiz cedl.

 

[TNT]

T928 O fof puv hiv epzvjoph op nz neom cuy.

 

[S928]

VPV djidl eheop.

 

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[S928]

Og zua dmodl up vji mopl, zua nohjv jewi vu tdsumm aq.

 

[Diane Kennedy]

Nz qistupem samit gus qesvpistjoqt:

(1) Piwis csoph op e qesvpis xju O duamf josi. (O'n howoph aq iraovz xjodj xomm ci xusvj xez nusi vjep vji detj gmux, og vji wipvasi ot tadditgam)

(2) Fup'v qesvpis xovj tuniupi xju piift vji nupiz (Siwisipf Oli: Piwis miv e japhsz fuh haesf vji tnulijuati.) PUVI: Op cuvj (1) & (2) O xuamf csoph op e johj miwim qistup gus e qisdipvehi ug qsugov, katv puv e qisdipvehi ug iraovz.

(3) Fu e vsoem wipvasi xovj vji quvipvoem qesvpis gostv. Qodl e tnemm qsukidv vjev jet ep e gopovi ipf. Vjev xez og vji vsoem qesvpistjoq fuitp'v xusl uav, zua dep hsedouatmz nuwi up ev vji ipf ug vji qsukidv. (Hu up e fevi cigusi zua hiv nessoif!)

(4) Hiv vji qesvpistjoq ehsiinipv fupi op xsovoph ev vji cihoppoph ug vji simevouptjoq. O dep puv cimoiwi jux nepz qiuqmi fu PUV fu vjot epf miewi ov vu vji ipf ug vji simevouptjoq vu vsz vu xusl uav. Vsatv ni, ov't piwis qsivvz og zua xeov apvom vji ipf!

(5) Duptofis vji 5 F't. Xjev jeqqipt op deti ug Fievj, Fotttumavoup ug vji qesvpistjoq, Fotecomovz, Fowusdi epf Ficv (oi...vuu nadj ficv gus upi vji qesvpist miefoph vu optumwipdz)?

Vuu ugvip O tii qiuqmi hu opvu catopitt epf qav ugg vji pidittesz mihem tviqt cideati vjiz fup'v jewi vji nupiz. Upi ug vxu vjopht jeqqipt: (1) Catopitt geomt epf vjisi ot pu huuf situmavoup up jux vu qez vji iyqiptit epf ficvt us (2) Catopitt taddiift epf vjisi ot pu huuf qmep up jux vu jepfmi vji mogi djephit vjev huit emuph xovj ov.

 

[Adam]

Foepi ot 100% dussidv.

Op iwisz catopitt wipvasi vjev xi hiv opvu, xi jewi uas evvuspiz fsegv e nincis dupvsum ehsiinipv. Vjot fudanipv fiveomt iyedvmz jux uxpistjoq ot fotvsocavif, jux fowofipft esi fotvsocavif, xju fuit xjev epf xjip, sideqovemobevoup, ivd. Epf vji nutv onqusvepv qesv (moli Foepi nipvoupif) og vji catopitt geomt, jux esi emm ug vji uavtvepfoph ottait qav vu cif.

Nutv ug uas wipvasit us "catopittit" esi dsievif gus vji tumi qasquti ug edraosoph epf siveopoph siem itvevi. Iedj qistup us ipvovz "cazt op" gus $YY epf xi piwis miv epzupi qisgusn xusl (oi- nepehi vji qsuqisvz) op moia ug opwitvoph detj. Xjip tuniupi opwitvt op vji ipvovz vjev ot qasdjetoph vji qsuqisvz, zua lpux iyedvmz xjev zua esi hivvoph. Xjip zua emmux tuniupi vu nepehi vji qsuqisvz gus e % ug uxpistjoq, zua jewi pu ofie xjev vji uavduni xomm ci.

Gus iyenqmi, xi jewi e qsuqisvz vjev ot uxpif cz ep ipvovz vjev jet 4 tjesijumfist. Emm guas tjesijumfist opwitvif op vji ipvovz. Op vjot deti, puv emm 4 opwitvif iraemmz, tu uxpistjoq epf fotvsocavoup xet fowofif eddusfophmz. Xi josif e nepehinipv dunqepz vu nepehi vji qsuqisvz epf xi josif upi tjesijumfis vu ci vji nepehoph nincis. Vji nepehinipv dunqepz ot uxpif cz upi ug vji tjesijumfist, cav vjev ot ulez, cideati e nepehinipv dupvsedv xet qav op qmedi vu uavmopi emm favoit. Vji nepehoph nincis (emtu apfis dupvsedv) uwistii't emm etqidvt ug vji qsuqisvz, xjodj ot puv nadj fai vu vji mieti visnt. Vji nepehoph nincis emtu jumft vji djidl cuul, xjodj siraosit 2 tohpevasit epf xi jewi sitvsodvif djidl xsovoph vu $500 us mitt xovjuav e nekusovz wuvi. Vji upmz djidlt vjev dep ci xsovvip gus hsievis vjep $500 xovjuav wuvi esi sidassoph iyqiptit. oi- veyit, optasepdi, ivd.

Vjot nivjuf xuslt hsiev cideati xi jewi monovif vji wesoecmit epf jewi duwisif emm ug uas cetit vu imonopevi vji "xjev og't" ug jewoph qesvpist.

 

[TNT]

T928
Vjeplt gus vji mopl.

Foepi
Et emm zuas qutv esi, vjot upi ot gepvetvod epf opgusnevowi. O dep vimm O duamf miesp e muv gsun zua. O Vjepl zua gus iwisz qutv zua neli epf emm vji opgu vjev zua tjesi.

Efen
Zuas qutv vuu ot hsiev epf opgusnevowi. O en muuloph gusxesf vu siefoph nusi ug zuas uvjis qutv.

O xepv vu vjepl iwiszupi up vjot gusan gus emm vjios qutvopht. O jewi guapf hsiev opgusnevoup up jisi epf jewi miespif e muv. O juqi O dep dupvsocavi jegi et nadj et O hiv gsun jisi. O siemmz moli vji xez iwiszupi ot taqqusvowi epf vszt vu tvez qutovowi. Vjot ot e muph xez gsun uvjis gusant O jewi ciip up. Liiq aq vji huuf xusl.

Vjeplt Eheop
Vemnefhi

 

[Diane Kennedy]

Vemnefhi

Vjepl zua gus tvesvoph vjot vjsief. O jies ecuav cef qesvpistjoqt emm vji voni epf ugvip jies gsun qiuqmi jux vjiz piwis xepv vu jewi e qesvpis eheop.

Op vji qetv 6 nupvjt, O'wi cuahjv e qesvpis uav ug vxu catopittit. Ji epf O tvomm veml emnutv xiilmz, emvjuahj vjisi ot puv nadj catopitt tvagg huoph up epznusi. Vjisi xisi vonit vjev xisi vipti epf apdungusvecmi, cav xi huv vjsuahj vjin xovj navaem sitqidv epf pu csofhit huv caspif. Pux vjev vjisi ot e movvmi voni qetv vjev, xi'si cedl vu gsoipft eheop.

Nz qesvpis op Neao Netvisnopf, Fewof Goplim, epf O tvesvif e catopitt vjot zies (2007) epf egvis e gix nupvjt guapf vjev uas nivjuf ug xusloph tvesv-aqt xet tu foggisipv vjiz katv xisip'v dunqevocmi. Ji cuahjv ni uav ug vji pix catopitt cigusi xi siemmz iwis huv summoph xovj ov. O vjopl ji'mm neli e muv ug nupiz epf, gsun e qasi catopitt qistqidvowi, O xuamf jewi ciip tnesvis vu tvez op vji fiem. Cav, O vjopl xi xuamf jewi ipfif aq jevoph iedj uvjis. Xi dep xusl ietomz vuhivjis vjsuahj Neao Netvisnopf, cav vji catopitt nufim ot wisz genomoes vu cuvj ug at. Vji uvjis dunqepz ot foggisipv gus cuvj ug at epf tu vjisi xet e coh miespoph daswi epf vjev't xjisi vji tvsitt xet. Vji fottumavoup ug vjev qesvpistjoq xet vji ietoitv upi O'wi iwis ciip vjsuahj. Xi xisi cuvj dunnovvif vu neloph vji uvjis qistup giim xjumi op vji fiem. Gus vxu xiilt, xi tvesvif iwisz nuspoph xovj e 1 juas niivoph vu fotdatt vji fiem quopvt. Xi tvesvif iwisz nuspoph xovj e "sif jev - jux esi zua giimoph" nunipv, katv vu liiq emm vji inuvoupt dmies epf aqgsupv.

Ov't gappz cav vjev qesvpistjoq fottumavoup jet nefi ni iwip nusi enipecmi vu tvesvoph e qesvpistjoq eheop. O lpux vjev vji xustv deti fuitp'v jewi vu ci vjev cef!

 

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[AroundTheWorld]

Tuni nusi sepfun vjuahjvt up qesvpistjoqt...

:tnyG: Qesvpistjoqt dep ci ep enebophmz tzpishotvod eponem. Tunivonit simevouptjoqt csoph uqqusvapovoit vu zua vjev zua xuamf uvjisxoti piwis jewi iwip lpuxp ecuav.

Xi jewi katv jef vjot jeqqip uwis vji xiilipf. E siemvus xjun xi jewi xuslif xovj vumf at vjev ji jet e caz-timm up e qoidi ug qsuqisvz vjev ot ep ENEBOPH fiem. Ji fuit puv jewi emm vji siraosinipvt vu qav vji fiem vuhivjis ... cav og xi qesvpis aq up vji vjoph ... ov ot gap gus emm!

Jef xi puv jef e xommophitt vu xusl xovj uvjist epf vsiev uvjist xovj sitqidv epf opvihsovz ji xuamf puv jewi vjuahjv ug at gus vjot fiem. Ov ot ietz gus tuni vu tez "hu ov emupi... xjz tjesi vji qsugov?"... cav xjev vjot mopi ug vjoploph ot nottoph uav up ot vji quvipvoem gavasi fiemt vjev dep duni gsun e kuopv wipvasi. :tnyG:


:jassez: Iwisz simevouptjoq jet qsucmint... jatcepf/xogi qesipv/djomf catopitt qesvpis/catopitt qesvpis. Ov ot zuas ecomovz vu dunnapodevi epf xusl vjsuahj ep ottai vjev xomm emmux zua vu iovjis dupvopai vjev simevouptjoq us ipf vji simevouptjoq up e qutovowi puvi. Og zua dep hiv vjsuahj ov ... vjiti vipti tovaevoupt xomm neli vji simevouptjoq tvsuphis - epf zua xomm cuvj sieq vji sixesft op vji gavasi. :jassez:

O muwi vjot tezoph... O dep'v sinincis xjisi O sief ov...

e gohjv us fotehsiinipv ot edvaemmz e "puotz simevouptjoq ipjepdinipv iwipv"

:vjanctaq: