It can be tricky having real estate partners when you invest. It isn’t just that some people will be less-than-trustworthy or won’t work as hard as you. It’s more often a problem of different ideas. My wife and I were once involved in a fixer-upper with another couple, for example, and discovered that to them it was perfectly normal and acceptable to raise the roof on one part of the home in order to create a different effect. We thought that was too much trouble and expense for the limited added value. They may have been right, by the way. It is almost impossible to say with certainty, but it was also very stressful to try to make our styles work together. If you do seek partners, try to determine if you think similarly before you get involved in a deal.
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