Do you see your fellow investors as competition?
Well, you shouldn’t. You’re missing out on loads of money-making opportunities if you think of them that way.
It amazes me that some investors will avoid partnering with other investors simply because they feel the market is too competitive.
My take on this is that what you see as competition could actually be a potential partner.
Think about it this way: Partnering is especially helpful if you’re a newbie investor or if you’re doing a type of deal that’s new to you.
And here’s how to find a partner who can work with you…
Search for “owner financing + [city]” or “lease option + [city]” on sites likes these:
- Bigger Pockets
When results come up that show people selling houses with owner financing or as lease options or subject-to—chances are, they also BUY houses those ways too…
So, get in touch with them and talk with them about partnering on deals. Tell them you’ll bring the lead—and sweeten the pot by actually having a signed agreement with the seller already—and they bring a buyer.
Bringing these investors a solid lead demonstrates the value you have.
And, if they bring the buyer, you can offer to do most of the work. Tell them you’ll: post the deal on websites, put out bandit signs, work with their title company, make sure the paperwork gets filled out…
And you know what? Most of the time, the investor will say “yes” to partnering.
Yes, you’ll have a smaller piece of the pie, but think about this: The pie will be bigger because you’ll have a partner who has buyers, who knows the area and who knows the ropes.
Plus, here’s an awesome bonus…
You’ll learn which contracts they use, trusted title companies they like to work with and the best marketing techniques for that area—not to mention you’ll be doing MORE deals by partnering.
I do this too. I have local wholesaler partners in several remote markets—and we’re all very happy doing loads more deals by working together.
I suggest you give it a go too. Partner up, and watch the deals close. 🙂