Deal Partnering

Deal partnering is a great way to get started in real estate.  Not only can it get you paid, it can also help build up your resume on deals that you have done.  When I first started in real estate, I took a good look at my inventory, ie… myself and what I had going for me.  Unfortunately, I had ok credit and no money.  Yet, I was very hungry and willing to do anything to make it in real estate.  I knew that I really had two viable options starting out.  One was wholesaling.  I knew beyond a doubt that I could lock up great deals in real estate.  In fact, with the money I had I knew I could lock up just one deal if I was lucky.  The other option was deal partnering.  I had a gift finding deals, I knew if I asked long enough, I would find an investor with money, but not the skills.  I offered to find the deals, run the rehab and do all the work.  My investor would put up the money and ok the deal and I would do everything else.  In exchange for my work, I would collect half the profits.  Truth is, I would have done it for 25%.  I knew what I needed was to get in the game and be known as a player.  I needed to do deals.  With my deal partner, I could use our homes as part of my credibility kit and before long, I could find private money that I could use to do my own deals and not have to split.

Deal partnering is a great way to jump start your real estate career.  Be bold in your efforts and don’t every quit.  You could be three feet from gold.