Quote:
Originally Posted by Hatterasguy
Well it is different when its not your money, but it doesn't mean their is no risk for you.
Personaly I look forward to the day when I do it on my own and only need partners if I want them. I am very grateful of the help I have gotten, and if you look at the background of a lot of successful people in real estate they did have a little help getting started and along the way. I still would have done it on my own, but now I can skip 10 years worth of hard work to save up the initial capital.
Next year I plan on buying a multi family in conjunction with my dad, but I'll be a 50% partner putting half of the cash up, and having my name on the note.
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I agree with your approach.........you can gain a lot more traction with help and resources from others.
My only comment is that the pucker factor when others are involved is simply not the same as when it's all on your shoulders.
Someday it will be all on your shoulders, and, hopefully, at that time, one single empty house won't be an excessive burden.
The worst thing a builder can do is overextend himself..........because he's supremely confident that he can sell anything that he buys or builds.