Real Estate Investing

Picking the Wrong Real Estate Partner: A Huge Mistake

May 11, 2011

I want to caution you, if and when you pick a partner in business, make sure this partner is everything you need them to be. When I started, I chose a partner who I knew little about, who had the same general goal, which was to make a lot of money in real estate investing.

What I found out (after we started our first deal together) was that his specific goals were very different than mine, and he ended up leading into spending a lot more money on the investment than we should have.

And when it was all said and done, I lost 2 years, hundreds of man hours, $8,000 and a friend over the deal.

So please, be very careful, and sit down and make out some specific goals that you want to achieve with this partner, before you jump into something.

Have you had an experience like this? Was this information helpful to you?

Please let me know in the comments section below.

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