Forming a real estate investing partnership could help you scale your real estate portfolio faster, but if you’re not careful, you could just as easily find yourself in hot water. Want to make sure you structure your partnership in a way that protects you and your assets? Then you won’t want to miss this episode!
Today’s Rookie Reply features more questions from the BiggerPockets Forums and answers from your trusted hosts, Ashley and Tony. First, we hear from a rookie who may be on the verge of making a major blunder with their first partnership, but not to worry—we’ll steer them in the right direction. Our next question comes from someone who’s about to close on their first rental property but is wary of inheriting tenants. What should they do? Offer cash for keys? Delay possession of the property? We’ll break down all of their options!
Finally, how difficult is it to start and scale an Airbnb business today? Our resident short-term rental expert shares some of the tools, systems, and expectations you’ll need to grow a profitable portfolio—no matter the market!
Ashley:
Let’s be honest. Figuring out how to partner with a contractor, navigating tenant leases or scaling a short-term rental portfolio isn’t something you learn from a textbook.
Tony:
I mean, these are real life curve balls that rookie investors are facing right now. And today we’re answering three questions straight from the BiggerPockets form to help you avoid these common pitfalls.
Ashley:
This is the Real Estate Rookie podcast. I am Ashley Kehr.
Tony:
And I’m Tony j Robinson. And with that, let’s get into today’s first question. Alright, so question one comes from Steve in the BiggerPockets forms and Steve says, I found a partner that I like to start flipping houses with. He’s very well qualified and he actually reached out to me to partner up. Our goal is the same started flipping business. He used to own his own contracting business for six years and is now the onsite…