Justin Fraser, partner at 88 Real Estate Capital and host of the "True Multifamily Podcast," recommends being open to partnering with other investors on deals. He says that when you have partners, you're able to take advantage of opportunities that you wouldn't be able to on your own.
"Including partners on a real estate deal creates win-win scenarios for everybody. With partners, you are each able to focus on the pieces of the deal that match your skill set or goals. For example, some investors have money but no time to do the legwork that goes into finding and running a deal. Others have the time but not the experience. Matching complementary skills and needs makes the project stronger.
"Many people are resistant to taking on partners in order to keep equity for themselves. However, I'd much rather have a smaller piece, percentage wise, of a property that's many times larger than any project I could do on my own."
Real estate provides opportunities like no other investment, but most people never see the massive success they hoped for. One of the main reasons for this is that they follow the advice of other investors who settled short of their original goals. Study how other investors have built their fortunes, and there's no reason you can't be the next real estate mogul.