Here are some answers to the most common FAQ's we receive.  These answers will help to assist you with deciding if you want to partner with us.
 
What is your credit score?
   My wife and I both have very nice credit scores.

Do you have a criminal background?
   No, I do not have a criminal background.

Have you ever filed bankruptcy?
   No, neither I or my wife has.

Why do you want investing partners?
   Because there are more great deals than I can accept and fund on my own.  I would rather have a part of something than 100% of nothing.  Additionally, there are bigger deals out there with even greater potential, but it takes additional funding.

How do you get paid on deal finder?
 Typically, once we decide what you are looking for and I locate and offer the property to you, a predetermined fee of $5000 and up is paid to me.  Don't worry there is still plenty of money in the deal for you too.

How long does my money say tied up for when we partner?
   We target the purchase to sale cycle to be no longer than 90 days, but in some cases it could be longer depending on many variables. 

Do you ever lose money on a property?
   Not every deal is perfect and there is a chance to lose at everything in life. But our strategy and process typically safeguards against loses and has room enough to break even if a property must be dumped.

What happens if you die?
   Although I hope to live much longer, you never know, but you are safeguarded as the registered deed has your interest recorded on it.  You wouldhave to complete the sales cycle on your own or dump to an investor.

What happens if I disappear?
   First my wife and kids wouldn't be too happy, second my boss wouldn't be too happy and I own too many things around town.  But in case I did, once again your interest is secured on the registered title and deed.

How long have you been working with partner investors?
   Actually, I have had partners to some degree over a period of time.  This is the first time I have actively pursued investing partners.  Again, because there are too many deals to be had and I am losing out on a piece of the pie.

What about the rehab and marketing expenses?
   If we are partners on a deal, it is all funded by you, but figured in the beginning as to what the total out of pocket should be and where it is to be spent.  If it is a deal finder opportunity, then you are responsible for everything on your own.

How fast can we make something happen?
   The market is ever changing, offers need to be made and accepted.  Some times a deal can happen in 48 hrs and sometimes you may wait a period of time and you have 10.

How did you learn how to do this?
   First, by trial and error and then by emulating the practices of the most successful real estate investors in MI.  Additionally, I belong to a very high powered network of successful local real estate investors that we share ideas regularly.  Finally, it is all about the network and the black book of contacts that have been established.

Is this stressful?
   If this is the only money you have, it is probably not for you.  If you can stomach the stock market, this is easier. Yes, it is stressful, as we everything there are unknowns, but we try to stick to a process and strategy that eliminates a lot of the gamble and makes it a calculated risk.  If you are not comfortable with strangers spending your money, maybe a deal finder is better, so you can control the outcome on your own.

If I have money does that make me in?
   Absolutely not!  We need to be compatible and have he similar goals, as well as not be a "nervous nelly" about this business.  Having money and making it available are two different things too.

Do I have to have cash?
   As a partner, ready access to cash is king, but if you have credit line that will work too.  The money needs to be available quickly to get the best deals.  In a deal finder, you pay me at the time of assignment of the deal to you.

How much do I need?
   Each partner should have at minimum of $100K, that doesn't mean we use all at one time.  It depends on the deal.  We can fund many good deals and make money for less than that, but we need to maintain an entry point so we know what we can work with. 

Can I live in another state?
   Absolutely, since we are doing all the work, you can live anywhere.

Can we do multiple deals?
   I am actually looking to limit the amount of people I partner with for obvious reasons.  My preference would be to have multiple deals going at once and make a reoccuring relationship into the future. 

How do you update me on progress?
   AsI manage the process,  you will be in the loop via progress reports and photos.  You will be informed as regularly (within reason) as you prefer.  Some like it weekly, some only want to be called when there check is coming.  You could also visit the property if you wish to observe and verify, but you are not the project manager, supervisor, foreman or boss, leave that up to us.

Who do you call first for deals?   
   My favorites of course.  Seriously, the partner that I have the best relationship with due to of funds, best partnership agreement (lowest rate or split), understands what we are trying to accomplish, wants us to succeed and trusts me with their checkbook.  Some people want to do one deal and are gone.  I am in this for the long haul, as I have kids that need braces and college tuition. So to me relationship is key. 

Do you have a guarantee?
   As with all investments there is risk, but fortunately with this, the risk is secured by real estate. But there are no guarantees stated or implied, it is an agreement of trust, with a targeted return or split agreed to up front, and not personally guaranteed by me our my company.  You need to ask yourself, does life have any guarantees?  Yea, death and taxes. 

What are the next steps?
   This type of relationship is not for everyone, but if you decide to go for it and fill out the investor contact form and if it appears that we have a good fit, we will meet over the phone or in person to get acquainted and then if there is a fit and we can work together, we agree, you open your check book and we do business together.

Respectfully,

Scott