Ep 403 - Why 50_50 Partnerships might be a bad idea
Sep 04, 2023
Ready to take the leap into uncharted real estate territory but unsure when the stars will align for your next big move? Today’s minisode of the Real Estate InvestHER Show got you covered! Join us as we dive deep into the age-old question of timing in the ever-evolving real estate world. With market fluctuations and financing challenges, now's the perfect moment to either embrace fresh opportunities or fortify your current path.
Liz and Andressa stress the significance of evaluating real estate partnerships. They explain why a 50/50 split may not always be ideal and instead suggest understanding each partner's unique strengths to contribute to project success. Their step-by-step approach includes using a Partnership Guide from their website to answer essential questions and then making two columns: one for what each partner brings to the table and the other for project goals. Through this evaluation, a fair profit split can be negotiated. Liz and Andressa share a successful 50/50 partnership example where they complemented each other's strengths. They also advise partnering with experienced individuals for valuable knowledge and to avoid mistakes. The episode underscores open communication, clear expectations, and defined roles for successful real estate investments.
- "I don't think any partnership works if you're not bringing your unique abilities to the table. What you bring to the table will be the column number one.” (03:45 – 03:49)
- "Taking any sort of assessment tool, doing things that are objective are really powerful because it's not our own opinion, but it's a third party's opinion in the sense of like highlighting things that maybe are so easy to you or so natural to you that you don't even think are a strength." (04:40 - 05:00)
- "If you think a partnership takes a lot of your time, your profit at the end needs to be much higher than before.” (08:26 - 08:32)
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