Partnering: with Money or Without

Two very common questions asked by many real estate entrepreneurs are:

1: How can I get involved in real estate when I don’t have any money to invest? And

2: How can I invest in real estate when I don’t have time or an interest in management, repairs, maintenance or mowing the lawn?

Well, I hope by positioning these items side by side that the wheels are now turning inside your head. You should immediately recognize that while these may be opposite positions, but they are completely complimentary. It is very common for a person to have both sufficient available capital and a real desire to build a real estate portfolio, but they simply don’t have either the time or the desire to devote to maintain the management and operation of a property. The flip side of that coin is also very common. Just about everywhere you look are people who have the time, willingness, talent and desire to be in the real estate business, but they just don’t have the available capital.

Simply put, there is available an obvious marriage of convenience between these parties. Like all relationships, a person should choose their partner(s) wisely, but when a companion is found, a world of opportunity, progress and achievement is laid before you.

I can point out numerous highly successful real estate entrepreneurs who started out with only time and now have money. Likewise I can identify those who started out with money, and now have much more of it. While some people see having either time or money without the other as a hindrance to building wealth in real estate, it can be the perfect jumping off point for an exciting and profitable journey in property ownership.

One of the most exciting aspects of this potential is how easy it is to find a counterpart. If you have either time or money, it is simply a matter of letting people know that you are willing to invest what you have, to help a partner get what they want. My first transaction was with a partner. He put up the money ($5,000) and I put up the time and effort. The rest, as they say, is history..

If you are one of the many people excited about this business, but needs the right partner to make it happen, here’s what to do:

1. Make sure you identify what you have to contribute; i.e., exactly how much time or what amount of money you are willing to invest.
2. Make sure you understand the real estate business sufficiently to safeguard your intended investment, whether that investment be in time or money.
3. Advertise for a partner. Simple want ads will work great, but word of mouth will bring you comparable results. Just start letting people know. Every person with which you share your desire will bring you much closer to finding the perfect partner. I guarantee that you’ll be surprised at how fast you’ll find a match.

When building any real estate business, you must begin with what you have; desire, time, skill, or money. Whatever you have to bring to the table, it is valuable and necessary for success. So if you’re wanting to get going, keep going, or build bigger; consider joining up with a partner (or partners) that have what you don’t, but need what you do.

Spread the word, and then build the wealth.