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.