Real estate can be lonely. Building a real estate business is often best done with a partner who has skills that you don’t. But how can you avoid partnering with someone who’s bad for you – or just plain bad?
A real estate investment partnership can work wonders, or it can be a nightmare.
A bad partner can set your real estate career back years – or even keep it from getting off the ground in the first place and you can get tarred with a bad partner’s reputation.
However, find a good real estate partner and you can complete twice as many deals or more! They can make up for the money or experience that you lack and make life so much easier.
Jeff Baker has come up with a list of key things to look for in the ideal partner as well as a list of bright red flags to avoid at all costs!
Jeff Baker has a diverse entrepreneurial background including brewpubs, small start-ups, medical devices, and real estate investing. When Jeff first entered real estate, he was excited to dive into some deals he thought he had done good due diligence on. Unfortunately, he soon realized he hadn’t done enough, which landed him in some bad business arrangements. This began his search for a system that would walk investors through the due diligence process before entering a partnership. His search turned up countless property due diligence systems, but he already knew how check a property’s foundation and integrity. But where was the system for evaluating the foundation and integrity of potential business partners? He partnered with attorney Chris Spurr to create Higher Scrutiny, a step-by-step system designed to walk an investor through the due diligence process of partnership deals. Jeff can be reached at [masked].