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How To Find A Good Partner.

Books have been written about this topic and rewritten. It’s kind of like dating you go out with a person then you realize they are not a fit for you. Finding a partner they can compliment you take a lot of finding what you don’t want. Going back to the dating scene is about 50/50 male vs female then breaking it down further how many are married. Then even further, how many are in a committed relationship. Then going the next step who is looking for a significant other and who is not. Finally getting down to your available pool of partners. Finding that one for some can be a lot of finding what you don’t want. Much the same with a finding a partner.

I know some of you might say I don’t want a partner that means you need to split the profits. It also mean twice the work. The other person might see certain things a bit differently they you. Which mean you could be accountable to someone else. Well before I go off on a tangent, let’s go back to the topic.

What are some qualities you (I) like in a partner, again in no certain order. (Your partner can be your partner in life or someone else or I can be talking to you and these are some qualities you need to possess)

1 Follow though.

One of my pet peeves is not being on time.  Either you don’t value your time or mine I feel disrespected. It also add a encumpasses accountablitiy porjects done by such day and not making the other person do the work you were tasked to do.


2 Start Small.

Do a small transaction, small deal and see if you can work together before moving to other transactions. If

not good time to part ways after the transaction is done.


3 Trust Your Gut.

What ever you want to call it gut/intuition. We were built with lie detectors built into us. We have been conditioned to ignore it(gut) by other’s word. Don’t believe them. Let me share a time that this was true for me. We were in the

beigan stages of finding and getting funding for a flip. The person was always late and after the meeting I walked away thinking “boy this was a waste of time.” To me nothing productive happened to move us to the next step.


4 Trust but verify.

If someone say they have done XYZ trust but verify. If they give excuses of why they can’t produce confirmation of what they did, don’t walk run the other way. You could have brought you the deal of a lifetime but there will be one next week the longer you say in the investment world.

Click here to learn more about Real Estate investing.

5 Have your agreement term witten.

Which mean write down what each partner is responsible for and that are consequences if not done. Also how will the profit be split. How will the partnership be terminated. Money make people act weird so write it down before income starts to come in.

Now I don’t mean someone who say “good job” to you, but a skill set that you lack or don’t like to do. Some like property management like me and some don’t, which could be you. Some are stronger in analyzing the deal while others can find the money.The idea is to bring out the best in both of you and make some income.

6 Find someone who complements your talents.

Now I don’t mean someone who say “good job” to you, but a skill set that you lack or don’t like to do. Some like property management like me and some don’t, which could be you. Some are stronger in analyzing the deal while others can find the money.The idea is to bring out the best in both of you and make some income.

 

Some Question to ask a potential partner

  • What is your experience?
  • What is your investment strategy?
  • When do you plan to invest?
  • What deals have you done and how many?
    • I can see them?
  • What are your strengths and weaknesses?
  • What are your assets and liabilities?
  • What is your family and job situations?
To warp it up finding a partner is work. It’s like a marriage use you head when looking for a partner. Ask questions use contracts, start small, kiss a few frogs. If it feel like the compliment you great if not don’t be scared to move on.


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