Tenants in Common Vs. Ownership - Posted by john

Posted by Jimmy on May 13, 2006 at 08:38:03:

Her’s my feeling about partnering up. It will complicate your life and your biz, so don’t do it unless there is a really good reason to. and try to think of an alternative way to engage the partner, without making him a partner.

if your partner has cash, and you don’t----that’s a pretty good reason (for you, but not him). but first, i would try to get this person to be a lender, and not a partner. Lenders are easier to deal with and eliminate.

if your partner has construction skills, and you don’t. same goes. if you can engage him as a vendor, you will be better off in the long run.

if your partner has deal-finding ability, and you don’t. try to compensate him as a bird dog, if possible.

if your partner has a succesful REI biz and you are just getting started… not that’s a great situation for you to partner up (but not for him).

Tenants in Common Vs. Ownership - Posted by john

Posted by john on May 11, 2006 at 18:05:49:

Can anyone tell me if they have any experience in investing in Realestate with other investors or maybe a real estate investment firm…I.E. Tenants in common. It seems like a good way to own a partial piece of a bigger commercial property. The only down side i wonder about is how do I get my money out when I want, and do I gain any appreciation value even though the other investors still own the property?

Re: Tenants in Common Vs. Ownership - Posted by Don Dion

Posted by Don Dion on May 18, 2006 at 11:04:11:

One note on partners. The partner you start with may not be the partner you end up with. As Tenants in common any partner owns his % and can sell that interest to anyone he chooses. To answer your second question: Yes he can sell it for market value at the time he wish’s to sell. The market may discount the value since he is only selling a partial interest so dont expect to get full value for your investment if it’s not sold as a whole.

Fly Solo and Be Happy - Posted by Jimmy

Posted by Jimmy on May 12, 2006 at 07:54:06:

Never take on a partner unless you absolutely have to do so. Keep your life simple. Retain maximum control. Go back through the archives here and on the general discussion, and read all the horror stories abour co-ownership.

Re: Fly Solo and Be Happy - Posted by Bill Taylor

Posted by Bill Taylor on May 12, 2006 at 23:05:11:

I have another take on that partner thing. I started out with a partner 26 years ago. I am not sure I would have done the business without that bit of comfort level that someone else was ready to jump into something that I wanted to do. We didn’t stay as aprtners long amybe a couple of years. He got transferred and moved on and I took over what we had. I cna’t thank that guy enough or give him enough creidt for where I am today. He gave me a boost and I went on from there. I do agree most partnerships do not work out but it may be just the motiavaion you need to at least get started.