Sometimes losing is winning and other times winning is losing. I have been part of and seen many great partnerships. I have also seen and been part of some not-so-great partnerships. What I have learned over the last 14 years in real estate is that partners are essential to success, but they can also single-handedly derail your deals, your career, and your dreams. To reach your potential you need to use them, so let’s talk about reasons you would want partners and a few reasons why you don’t.
Real Estate Has Made A Lot of People Millionaires
In the real estate market, you see a lot I’ve seen partners work so well that it has literally made people millionaires. One client always comes to mind when I talk about partnerships. This duo has been able to amass a fortune that would not have been possible separately. They should each clear a million dollars in income this year and have started building a nice little nest egg of rental real estate.
Mistakes Are Done in the Deals
The number one key for a successful partnership is when the partners each bring something to the table. Making the company or joint venture stronger. One common example I see is when one person has a large network, experience, and a knack for finding deals, while the other one is real analytical and can run the numbers and line up the financing.
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