282: How to Create the Perfect Partnership with Tim and Jay

When does one plus one equal WAY more than two? Real estate partnerships! On this episode of The BiggerPockets Podcast, we sit down with two real estate investors (Jay Helms and Tim Kelly) who were attempting to build their business alone, but found they could do far more together. In this fun and fast-paced interview, you’ll learn what makes their partnership so successful, as well as how the team analyzes a market (including several can’t-miss online research websites), and how they took down a 42-unit apartment complex using some pretty fantastic creative financing. Whether you plan to build your empire alone or alongside a partner, this episode is sure to give you a variety of tips and strategies to help your business take off. In This Episode We Cover:Tim’s background story and how he got into real estateUsing 203k loans to buy dealsJay’s background and his live-in flipWhy they think they make up a good teamHow they closed on an apartment complex 6-months after partnering upHow they found the deal and details about itThe importance of a clear and concise planHow they financed the dealTips for finding the right partnersHow to create a “sample deal package”What to look for in a partnerWhy they participate in the BiggerPockets ForumsHow to network effectivelyWhat a good deal is for themAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Podcast 066: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael BlankBiggerPockets EventsBiggerPockets MarketplaceBest PlacesBureau of Labor StatisticsCity DataYelpBooks Mentioned in this ShowHow to Win Friends & Influence People by Dale CarnegieRich Dad Poor Dad by Robert KiyosakiThe ABCs of Real Estate Investing by Ken McElroySovereignty: The Battle for the Hearts and Minds of Men by Ryan MichlerWild at Heart Field Manual by John EldredgeTax-Free Wealth by Tom WheelwrightFire Round QuestionsSellers Do Not Want to Give Due Diligence. What Do I do?If u had no ties 2 any city,Where would u move 2 start investing?Tweetable Topics:“Is there a better way to first get involved in real estate than to leverage the power of the bank?” (Tweet This!)“Once you figure out your why, then you will be able to set goals to support that why.” (Tweet This!)“It’s more important to pick something than to get stuck choosing the right thing.” (Tweet This!)“I want to live where I want to live and invest where it makes sense.” (Tweet This!)Connect with TimTim’s BiggerPockets ProfileTim’s Facebook ProfileTim’s LinkedIn ProfileTim’s Instagram ProfileTim’s WebsiteConnect with JayJay’s BiggerPockets ProfileJay’s Facebook GroupJay’s Website