TR_August_2021_lowres

Doug Perry is Correspondent Sales Director at Temple View Capital, a national private portfolio lender that offers flexible financing for investors in residential real estate. Founded by entrepreneurs with more than 20 years of residential mortgage and real estate investment experience, Temple View has been at the forefront of innovative product development since its inception. Utilizing a common sense underwriting approach, deep commitment to customer service and a well- capitalized balance sheet, Temple View enables real estate investors, correspondent lenders and brokers nationwide to optimize financing efficiency on real estate investment projects and rental properties. FAILED PROFESSIONAL—AND MAYBE PERSONAL—RELATIONSHIPS Creating a partnership is one thing; maintaining it is something else. It takes effort and a united vision—and a rock-solid agreement—to keep business partners on track 100% of the time. Insufficient communication and a lack of involvement—or unequal division of workload—can lead to a domino effect resulting in a deteriorating partnership that can throw projects off schedule. Forging professional partnerships should always be a symbiotic rela- tionship where both parties benefit from it as a result. No matter the reasons for wanting to explore this as a potential business option, the final decision should be an informed one made with clarity. • Forging professional partnerships should always be a symbiotic relationshipwhere both parties benefit from it as a result. ” —Doug Perry, Temple View Capital

preferences. No one person is great at absolutely everything, even suc- cessful investors. One investor can be great at marketing while anoth- er can take over the budgeting and number crunching. Relying on each other’s strengths can make for a better project outcome. FINANCING AND CAPITAL — Working with a seasoned investor can have beneficial financial outcomes, including greater propensity for obtaining financing, as well as access to seed capital through the investor him or herself. An experienced investor will have the portfolio, connections, and presumably the required credit and assets to secure the capital needed. THE CONS COMPETING GOALS – This is where transparency and conversation is critical before any major decisions

are made. While two individuals might have complimentary skills and get along great together, the partnership is bound to falter if professional goals don’t align. One may want to buy single-family properties while the other wants to invest in a multiunit. Ultimately, if the long-term goals don’t match, nor do the business plans to reach them, it makes no sense to create a partnership that is bound to be cumbersome or a flat out fail. SPLIT EQUITY – This is an obvi - ous point to make but still worth making. While there are benefits to teaming up with an experienced partner, you then give up equity in whatever project you both tack- le. If the need for a partnership is heavily based on funds, there are other ways to keep 100% of the equity—such as private loans or bridge loans—without sacrificing a hefty percentage.

thinkrealty . com | 45

Made with FlippingBook Online newsletter