UK Landlord Forum / Life

ok I need abit of help
Im thinking of trying to find a silent partner , someone that will just invest there money with mine and some knowledge of property and the legal side of it.
You get the jist .

But Im abit clue-less

I have 3 possible people I could ask .... but is it wise to go in with someone you know ... as they could turn from being silent to an opinionated nuisance , that wants to do it there way

or is it better to find someone you dont know .... and if so . Where the hell do I find this person ?? ( and make them believe a 19yr old will make them money  )

also I odv. would want to cover my back , would my solicitor do all of that , and draw up a contract . etc etc .

any help would be great .

thankx

ASK ME!

I've been asking Badgey to ask me for ages, but he's being a poo-poo head!

ask you what , if you know anything about silent partners ??
 

I though thats what this thread is !?

eh ? lol

your confusing mee againnnn

There's one major flaw in your plan.

You're asking for someone to trust you with their money (which is what you're doing), and you self-proclaim that you don't know much about property. Yet the silent partner you are looking for is required to have property knowledge. So if you want them to be a silent partner what good is their knowledge and what incentive do they have to leave it to you (since they're the one with the knowledge)?

Ask me to be your silent partner, you doofus!

I'm going to write you an article tonight about the advantages and disadvantages of working with friends/family and a stranger!

ok . hmmmm .

I see your point .

I need to think haha

hmmm I keep thinking about what I could do and my options .......... and I think the reason im getting so confused is because I have so many .

Which I guess isnt a bad situation to be in !
But in away it is , I just have to think about which I want to commit too .


hmm

So why would you want to be a silent partner ? odv. money ... but is that it

Quote from: propertyfag on November 14, 2007, 03:21:30 PM
There's one major flaw in your plan.

You're asking for someone to trust you with their money (which is what you're doing), and you self-proclaim that you don't know much about property. Yet the silent partner you are looking for is required to have property knowledge. So if you want them to be a silent partner what good is their knowledge and what incentive do they have to leave it to you (since they're the one with the knowledge)?

Hmm I see what you mean .
Maybe I guess im the one unsure about my ability ... and thats why . But then why would they invest with me ?!!
So maybe just an interest in property ie , house prices and mortgage rates etc
I think my brain is abit dead today  hmm

Quote from: Fionalouisa on November 14, 2007, 04:15:17 PM
hmmm I keep thinking about what I could do and my options .......... and I think the reason im getting so confused is because I have so many .

Which I guess isnt a bad situation to be in !
But in away it is , I just have to think about which I want to commit too .


hmm

So why would you want to be a silent partner ? odv. money ... but is that it

I have a passion for property. I love the concept of prospering through property investment. Some people like stamps, I like property. So any property venture grabs my attention.

Quote from: Fionalouisa on November 14, 2007, 04:20:23 PM



Hmm I see what you mean .
Maybe I guess im the one unsure about my ability ... and thats why . But then why would they invest with me ?!!
So maybe just an interest in property ie , house prices and mortgage rates etc
I think my brain is abit dead today  hmm

Wouldn't it be easier/better to write down a project plan and all other ideas you may have, and then find someone that shares similar ideas? You can gain a lot more from a partner than just "money" if you get the right partner.

No offense, but I don't think anyone would agree to, "give me your money, all you gotta' do is shut up and i'll make you rich"

Your totally right .

I did that .... and I naively choose the totally wrong person and its a nightmare , I hate him !
I know I can do it totally on my own but he really slows everything down by disagreeing.

But its all my fault , for thinking he was on the same wave lenghth as me.

As for the '' give me your money , all you gotta do is shut up and i'll make you rich''
If they target someone with a huge amont of money , and you agree before hand how its going to work , I think they can have minimal involvment .

I guess I need to find the perfect person , that has the same ideas as me , and also help with the money side of it .

I think its maybe the money side of it that I need the support with and thats why I want a silent partner that knows about the financial side of it .

If it wasnt for my lack of intelligence ... I can afford to do it on my own

The mind boggles

Quote from: Fionalouisa on November 14, 2007, 04:43:11 PM
Your totally right .

I did that .... and I naively choose the totally wrong person and its a nightmare , I hate him !
I know I can do it totally on my own but he really slows everything down by disagreeing.

But its all my fault , for thinking he was on the same wave lenghth as me.

As for the '' give me your money , all you gotta do is shut up and i'll make you rich''
If they target someone with a huge amont of money , and you agree before hand how its going to work , I think they can have minimal involvment .

If someone had huge amounts of money, why would they work with anyone but a professional?

I s'pose

ok your right lol

I think , I need to re think

But I meant someone I knew , rather than a stranger .... a stranger with alot of money wouldnt probably give me the time of day.

Just pick me already, Lordy!

But I dont know if a silent partner is what I need .

I need maybe a financial advisor .. but not the whole , have meeting and limited time to talk to them . haha What i really need is someone that has a clue that I can ring up when I need advise , and they will know all the answers.

Now that would be perfect . hmm

Good luck with that

Fee Fee,
Ok now that you have had time to think, what is it that a `property investment Angel` * thats what they are called by the way* can do for you in very basic term.

What are you going to get out of it

What are they going to get out of it

How would you invest their money

What is the return on their money

Quote from: Badger on November 15, 2007, 09:23:04 AM
Fee Fee,
Ok now that you have had time to think, what is it that a `property investment Angel` * thats what they are called by the way* can do for you in very basic term.

What are you going to get out of it

What are they going to get out of it

How would you invest their money

What is the return on their money

Wouldn't those questions only be possible to answer once finding a property to invest into?