Real Estate Partners – How To Find Them

Real Estate Partners – How To Find Them


So you want to find a partner for
real-estate deal. My friends, you have come to the right place, my name is Kris
Krohn, this is limitless TV and we’re going to share with you what that means.
In fact, I’m going to be bringing a guest on the channel that actually just made
$100,000 partnering on one of her most recent deals and we’re going to show you
how you can do the same. Alright, my friends, today, we’re jumping in
and we’re talking about how to find partners for real estate deals, okay.
We’ve been talking about partners a lot, if you’re on the channel, you’ve been
watching videos, you know that this is a huge buzzword and you know what? There’s
no better way to do it than actually taking somebody that got a partner, did a
hundred thousand dollar deal with gains and we’re going to break it down and talk
about how do you even do this whole partnering thing? So by the way, Marianne, go
ahead and introduce yourself a little bit, your YouTube channel on how we play
together. My name is Marianne DeNovellis, I run the Six Figure Mastermind channel
over on YouTube, so psyched to be hanging out with Kris today on
Limitless TV. I just love all the collaborating and all the stuff that we
get to build together and today, this is a super fun topic and when we say
partners, don’t worry, it’s not about this, it’s not that kind of commitment, we’re
talking about super easy, super simple, right on contract commitments here. – So
first of all, what is a partner? Let’s break it down, Marianne, super super
basic. Real estate is going to require certain things, right? It needs someone to
be able to buy a property and if you’re using a bank, then there’s going to be
credit, if there’s a down payment, there’s going to be money and then whatever the
strategy is, you need someone to do it right and so a partner is a person that
augments or makes up the difference for what’s missing. You know, let’s take Marianne
for example. Let’s say that she’s short on funds to really do a real
estate deal, – Hey, I’m short but I was also short on funds, sorry. – Yeah, stand up. So short of
funds, also didn’t have the credit to do a deal per se and so between those two
things, you might say, Oh well, I guess I can’t do real estate and yet, for you,
what made up the difference was of what? – Well that’s the boat I was in,
it’s like, oh maybe the door is slam but they said, no no, Limitless said call us
for a game plan and they opened the door they said, did you know that you could
partner? And I was like, whoa you lost me. What does that even mean? – So here’s the
cool thing.. In real estate, when we say a partner, here’s what we normally mean..
Someone that has money for a deal Now just think for a minute about all the
people that live in your world and let’s just say for a moment you had x-ray
vision and that you could actually see them financially for where they were at.
We live in a world where the people on the street, the people that you meet, we
all walk and talk as if we’re broke or that we have very little money
and then those with money are untouchables or they’re out there, people
we don’t associate with, let me give you a reality check. The people next to you
on the street, they’ve been 20 years at their job and
they’ve got a hundred thousand and a 401k or they haven’t put any money in a
401k but they hate debt so they’ve been paying off their house. There’s many many
Americans that are running around with fifty thousand, hundred thousand, two
hundred thousand dollars, three hundred thousand dollars from 10, 20, 30 years of
working and yet, they don’t have money in their bank account and so they feel poor
and they don’t have a plan and they know that retirements coming’s on and they’re
like, wow I don’t have confidence that I’m going to be able to retire but they
actually have a hidden asset that they’re not thinking about. They got a
401K or an IRA or equity in their home and that person is looking for a
solution and do you know who you are to them? You’re the solution. There’s a way
for them to take some of those assets, I call them hidden because they don’t
think about him, – No, who thinks about that? – They don’t getpaid on them, right?
Just like you had a 401k. – Oh yeah. – and the 401k, you weren’t even ever
thinking about it like an asset because every month it wasn’t what? – No I wasn’t
doing anything for us and and I love the analogy that I heard, one that says, the
401k is like this sacred cow, we build this 401k up like a house and then when
we retire, we’re going to take apart the house and just hope we don’t run out of
pieces before we die. That’s what the 401k when it’s like, that’s no legacy,
that’s nothing. – That’s not only all not a legacy but it actually comes apart and
usually a one or two or three or four your bird a time but you need 30
years for retirement, friends. Unfortunately, modern medicine is keeping
us alive so long.. – Wait, unfortunately? – Well I just mean it’s like, yay, thanks, I retired at
65 and I get to live 105, I got 40 more years and I didn’t plan for 40 years of living so
I’m going to have to retire on charity or my kids or the government and trust me,
that’s not a whole lot. That doesn’t work out, you don’t want to be a stress and a
burden to society so get your act together with real estate and whatever
you’re missing, you can put together with a partner. So today, for today’s deal,
we’re really talking about the fact that these are the three components you need
in real estate. You need a deal, you need a person that’s going to take care of
and execute the deal and number three, you need someone that has money for the
deal and so, Marianne, you are in a position where you knew you wanted to do
real estate a couple of years ago, you didn’t have all the resources that
you needed to do it but you brought in a partner that made up the difference. Tell
me first of all, how did you find this person? – Well this was really fascinating
cause we didn’t know this person face to face this and I don’t even know if we’d
ever passed each other on the street for that matter but I got through the
mindset of, first of all, okay, this is a possibility for me even though I don’t
have $35,000 in my 401k, I think I’d have like $5,000 in my 401k so I gave it
Limitless, I’m like, alright, you guys tell me that you can do partnerships, you
guys tell me that we can bring people together, you’ve got a managing partner,
you’ve got a cash partner, you’ve got a credit partner, I can bring some cash and
I am willing to put in the elbow grease to manage the property, what do I do? And
they say, you know what? We actually have a partner for you right now who doesn’t
want to manage the property but they’ve got some cash just like you and they’re
looking for partners. I was like, wait a second, so you provide the partners too? You know
people? There’s other people that want to be a part of this? – And when one of our
systems, we do actually provide that for people, we help people but even if you
wanted to find one organically, one of the things I love about Marianne is that
she really knows how to go social, she knows how to be on Facebook and some of
the other social sites to find what she’s looking for and I’ve seen Marianne
do some of the most extraordinary things so I’m going to put you on the spot
right now and say okay, Marianne, let’s say that we didn’t provide you a partner
but you wanted to do a deal and you were missing some funds, knowing what you
currently know, how would you go find someone through Facebook that might want
to partner up with some money on a deal? – So I would basically be looking for
people to hang out in Facebook groups that are along the interest lines of
what I’m looking for. So I would go into Facebook groups that say real estate
investors. I would go into Facebook groups that say, looking for retirement
funds or anything that’s along the same lines of what I’m trying to create
wanting to retire early or four hour work week or someone that’s wanting to
retire and and create massive wealth that on a done-for-you basis so that
they can have that residual income and I would go in there and say, “Hey I’ve got
this thing, I can need a partner, I need someone to bring in either the cash or
part of the credit. Who’s interested in learning more about this with me?” and I
would just go out there and ask simple questions and then follow up with anyone
who responded. – Wow. Did you see what Marianne just did right
there? Go join some groups that are into the real estate or finance game
or stock market, find those people with like-minded interests and then you go out
there and start posting, “Hey. I’ve got a deal that I’m looking at, I’ve got some
money, I’m looking for someone that’s got the rest of the money.” And all of a
sudden, you start participating and grabbing some of these dialogues and
boom, you have a partner. – There’s also a tip I want to give you. A lot of people on Facebook now,
they’re using this hashtag thing, do the hashtag thing, look on the hashtag real
estate, look at the hashtag retire, look at all of your hashtags when you do that,
you’re going to find all of the relevant posts and you’ve got a whole potential
list of partners. – You know, there’s another old school strategy, I often go
old-school and old-school for me is actually just sit and I’ll open up my
phone and I’ll go through my contract so I’ll be like, who do I know that has been
holding a good steady job, probably a better-than-average paying job and I’ll
make a list of those people and I’ll call him up and I’ll say, “Hey. I’m looking
at doing a real estate deal, this deal has the ability to make X kind of
returns and I’m looking for someone that might have some money and you came to
mind. Are you interested? How solid are you feeling about
your real estate retirement plan?” or rather, they don’t even know real estate
so I’m just going to say retirement plan. And you know, a lot of people if they’re
honest, will say, ‘Well, you know, I contribute this and that but I mean I
don’t know if I have a really good plan.” “Do you have a plan at retirement to
make, you know, $5,000 a month or $10,000 a month?”
“Well, I don’t really, I’m just accumulating.” There’s places there where
you can accumulate and start that conversation so finding partners, now the
only way that these strategies Facebook or going old-school through your
rolodex which is your smart phone, the only way that that actually really works
if it sounds weird, like I’m 38 and I said rolodex. I saw one of those growing up.
So the only way that that really works is if you also have access to deals
because bottom line is, you’re the master deal maker, you’re actually taking money
and real estate and marrying them together. – And that’s the mindset you
totally got to step into and say, you know what? I’m going to become the
managing partner, I’m the one reaching out, I’m the one making calls and even
though I have no idea what the deals look like, I’ve got a team, I’ve got a
whole line up behind me then it’s exactly what I need. – You know, in some of
my other videos, we talk about how to find really good deals so I want you to
go I want you to watch those and if you take that video on how to find a good
deal, marry it to this video on how to find a partner then what you can do is,
go out there and grab a deal and then go out there and use social media, use your
old-school, roll the dice and go find people with the money and put them
together. You know, this actually just happened with the close friend of ours,
Von. Von’s in my personal and private real estate community and what
was interesting is, he got speaking with one of his neighbors and what he
did is, he took some of the deals, we were doing that he had access to and he kept
showing him to his buddy and his buddy said, “Well I got money sitting in my IRA,
401k not doing what I want.” – It’s funny how that comes up, isn’t it?
– And all of a sudden, we’re doing two deals right now. – Wow, that’s awesome. – And so, I want to give you one more piece on this whole partnering thing that I know
you’re going to ask about and it’s going to be, alright,
I found a deal, I found someone with money, now how do we actually come
together? First of all, when you got together, how did you guys formalize your
agreement? – Well we got together with one of our real estate coaches and he said,
okay, you guys cut this part, you guys guess with this part, let’s draw up some
paperwork and make it all work out and I didn’t have to write the paperwork, I
just used the contracts that was available and basically just put our
names in, put the percentages in and then committed to whatever agreements we’d
put together, we would be the managing partner and so on and once the
contract was signed and sealed, we just did business. – So let me show you how
simple that is. Whether it’s a contract or an LLC, we’ve got a video on how to do
LLC, it’s a super smart play because an LLC is a building contract and it’s just
what Marianne said, it’s going to define who’s doing what, what are your roles, what is
your percentage of ownership and other than that, you not have an agreement and
you guys are out the door making something happen that you couldn’t do on
your own. You might have seen me do this before, it’s just a really simple analogy
for what we’re really doing is we’re taking one person that has one set of
assets and abilities, we’re taking another person that has different
abilities, you put them together and one plus one equal 11. Not two. It’s so much
more because neither of you could do what you’re able to do together. Real
estate is a people game, it’s not a property business, it’s all about
putting deals together, it’s all about putting people together and, Marianne, now
on this very specific deal, you have been able to, you got with this partner, you
guys then found a house, you bought the house, you used a combination of your
assets, you’ve been the active partner on it
which, by the way, that probably hasn’t been a whole lot of time, right? – I
think we changed the filter once because it was a local home. – Okay and then on
their side, they’ve been really passive. And no as a few years has passed
and you guys are up how much on the house? – We’re at a hundred grand above our
purchase price on the house right now. There’s been some really cool
developments around the property and it just actually keeps climbing. – Yeah, so a
hundred thousand dollars, when it comes time to sell that property, you’re going
to be getting a huge chunk of that where you started out with $5,000
in your 401k, you now have enough money without needing a partner
to go buy another house or you could take that money and split it into
multiple homes with more partners. – Because that’s our game plan, we don’t want to go
from one to one, we want to go one plus one to eleven, so we’re going to double up
as much as we can. – Yeah, awesome. Friends, I want you to comment below on
this video if you have any questions and for those of you that are thinking, “Wow, I
think I’m ready for real estate and I totally need a partner.” We have a partner
profits program so go ahead and click the link below where we can actually
give you all the juicy details from partnering on A to Z on exactly what you
need to go ahead and rock it out and make it happen. Thank you Marianne for being on the channel. You can find her on Six Figure
Mastermind and, friends, I hope you take today’s and knowledge that you gained
from this video and that you put to great use and that you use it. Come find
us on Facebook and check out some of the other places where we can meet up. In
fact, if you click the link here, you and I, we can get live with each other. I
always have some events somewhere in the world going on where we can meet up and
spend time together focusing on building the right kind of mindset and getting
you more powerful realistic tools.

8 thoughts on “Real Estate Partners – How To Find Them

  1. still stock in a lease option what it is meant by A portion of the monthly rental payment applies toward the purchase price so it means i do not get mortgage leftovers or what , and am i supposed to share mortgage leftovers with my partner and it depends on the agreement what your team usually do ?? please answer ๐Ÿ˜‰

  2. ๐Ÿค”

  3. Hey man Iโ€™m really interested now ๐Ÿค” though I wouldnโ€™t get into something like this unless I knew it was 100% legitimate, is it?

  4. Iโ€™m struggling financially living paycheck to paycheck every week itโ€™s not paying nothing for me โ—๏ธ I gotta change some stuff in my life and really hope I get a reply back on this, thanks ๐Ÿ™

  5. There should of been way more views for this diamond in the rough video. Thanks man! I'm using this advice. I'm going to listen!

  6. Well I'm about to sign up for the program. I definitely could find the deals!

  7. Okay so youโ€™re saying limitless will match me with partners, well I am an unlimited package member, how do I get setup with your partners? I havnt heard anything about this at all….

  8. ๐Ÿ‘๐Ÿ‘

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