When multiple people are involved in a real estate deal it can be tricky, but it’s also a very POWERFUL way to grow a real estate portfolio—You see, we can accomplish a lot more when we bring people together than we can on our own.
There are FOUR components in any real estate deal:
- Finding it,
- Funding it,
- Having Credit for it, and
- Managing it
The power of multiple-owner real estate is that you don’t have to do ALL FOUR of these yourself. In fact, I recommend that you choose the component or components you feel strongest about and find a partner who will cover the area(s) you’re either less skilled in or feel less passionate about.
Most of my partnerships have me providing the deals and managing the portfolio, while my partner brings the money and the credit. These are the two areas I am good at, so I stick with them. My real estate portfolio has grown incredibly by following this system.
Please note: Doing real estate with more than just one other person enters into the realm of a Security, which has its own rules and regulations. Please be sure to talk with a professional before deciding on any real estate deal, especially those involving multiple buyers or partners.
Partnering with someone is more than just figuring out who is best at which components. Character evaluation is vital in this process. I choose people based on a handful of criteria. Some of these are included below:
- Mindset (Positive vs. Negative)
I want to feel good about my partners, so these traits hold significant weight in my decision to partner. It could be an awesome deal, but a person’s character can break the partnership for me.
Multiple-owner real estate has plenty of advantages and disadvantages—all things do. Don’t let the intricacies of partnering stop you from getting started in real estate. Over the last decade, my team and I have successfully partnered with thousands of people using these strategies. I can tell you, IT WORKS.
I wrote all about my real estate system in my book “The Strait Path to Real Estate Wealth.” If you are looking to get started in real estate or want to grow your wealth the way that hundreds of millionaires and billionaires have for the last century, reading that book is the BEST place to get started.
I’m giving away copies for FREE here.
Get in the real estate game by getting your free copy of my book today.
Best of luck in your Real Estate success!