What are the drawbacks and benefits of having a partner in real estate?

Question

Is it a good idea to have a partner in real estate ?

Answer 1

Partners means you can take a day off or gone on vacation.

Partners means you may do 80% of the work and get 50% of the money.

Answer 2

This would depend on the relationship you have with this person. Who does the listings and the split on the commission. Does one do the selling or both do all?

I  have been successful with a partner, but we had the same objectives, played off each other on questions, marketing and enjoyed great success.

Make an informal list of each of your responsibilities, the commission splits for each for doing a certain part of listings and selling, what happens in the event you decide to go your separate ways.

Most time this will work out ok for both if both have a license thus both are of equal status.

You also give up some individual traits you might have being with a partner, but you have to decide if this is worth giving up for the sake of the partnership.

If this is gonna work both people have to want to make it work and work in unity. If not this arrangement will not work.

I hope this has been of some use to you, good luck.

"FIGHT ON"