50/50 partnership

What’s peoples experience with 50/50 partnership in real estate a really close friend of mine wants to partner up. We both bring different skill sets and resources to the table but the important thing is that out of our friends we’re the only ones that actually have some spare capital to make it work. My fiends a banker and I work as an analyst. I’m pretty handy and learn repairs and fixing stuff quickly access to tools and have a truck as well as have 800+ credit where he has access to cheap contractors and labor and a decent credit score 700+. My goal is to to scale quickly and make money quick so that eventually we could split and be pre profitable doing it on our own. So with that said is fixing and flipping the better route, or fixing up rentals to cash flow from better. As far as loans are concerned what’s the best loan to go after, we have about 60k cash that would need to be used for purchasing closing and renovation expenses. We’re looking for houses in the 100-175k range. Should we wait to accumulate more cash or wait on the market to fall. We want to buy in our local market Tampa but prices are crazy unless you can find some off market deal. We would consider going to the surrounding developing areas at furthest 1 hour away that have some potential . I know there is a lot of questions here but any thoughts and options would be beneficial.

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What’s peoples experience with 50/50 partnership in real estate a really close friend of mine wants to partner up. We both bring different skill sets and resources to the table but the important thing is that out of our friends we’re the only ones that actually have some spare capital to make it work. My fiends a banker and I work as an analyst. I’m pretty handy and learn repairs and fixing stuff quickly access to tools and have a truck as well as have 800+ credit where he has access to cheap contractors and labor and a decent credit score 700+. My goal is to to scale quickly and make money quick so that eventually we could split and be pre profitable doing it on our own. So with that said is fixing and flipping the better route, or fixing up rentals to cash flow from better. As far as loans are concerned what’s the best loan to go after, we have about 60k cash that would need to be used for purchasing closing and renovation expenses. We’re looking for houses in the 100-175k range. Should we wait to accumulate more cash or wait on the market to fall. We want to buy in our local market Tampa but prices are crazy unless you can find some off market deal. We would consider going to the surrounding developing areas at furthest 1 hour away that have some potential . I know there is a lot of questions here but any thoughts and options would be beneficial. submitted by /u/Arsenal6675 [link] [comments]

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