Partnering with another investor will give you access to more capital, especially if you are just getting started. It is important to choose someone who is trustworthy and who has goals similar to yours.
Get everything in writing if you decide to invest in a property with someone else. You need to agree on everything with the other person and get a legally binding contract that details what you and your partner own and what your responsibilities are.
Put together a list of what you are bringing to the table to find the right partner. Assess how much you can invest and ask yourself what your strengths are. For instance, you could bring experience or negotiating skills to the table. You could bring something to the partnership by handling repairs, taking care of the paperwork, or being in charge of finding the ideal property.
“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.”
– Andrew Carnegie.