When 1+1=5: Finding Your Missing Puzzle Piece

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Partnerships in house flipping can be rocket fuel or a complete disaster depending on who you choose. We share three non-negotiables for selecting a business partner who will help your flipping business thrive rather than implode.

• Shared vision and goals - ensure you're both paddling in the same direction with aligned expectations
• Complementary skills - look for someone whose strengths fill your gaps, not a clone of yourself
• Trust and integrity - the foundation that matters most when projects inevitably hit rough patches
• Reputation matters - your partner's industry reputation becomes yours too
• Work ethic must be aligned - resentment builds fast when commitment levels differ
• Get everything in writing - create solid operating agreements before money is involved

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Episode Transcript

Ed Mathews (00:00):
The best partnerships aren't made from
clones.
They're puzzle pieces that fittogether well.
Ever sat in your car scrollingthrough Zillow and thought, man,
if I just knew where to start,I could flip one of these.
Yeah, I've been there too.
Most people who want to fliphouses never even start, not
because they're lazy, butbecause they don't have the
blueprint.

(00:20):
Well, that changes today.
If you give me five minutes,I'll give you real-world
flipping strategies thatactually work.
No fluff, no theories, nogatekeeping, just real how-to
information for you to apply.
Today You're listening to Demo,to Dollars, your no-BS flipping
playbook, one tip at a time.
Today we're talking aboutsomething that can make or break

(00:43):
your flipping business choosingthe right business partner.
Now partnerships can be rocketfuel.
With the right person, you canscale faster, take on bigger
deals and cover blind spots youdidn't even know you had.
But the wrong partner.
They'll drain your energy, yourbank account and your sanity.
So how do you protect yourself?
Let's break it down into threenon-negotiables.

(01:03):
How do you protect yourself?
Let's break it down into threenon-negotiables.
First, shared vision and goals.
Alignment at the core.
You and your partner need toagree on what you're building.
Are you flipping houses forquick cashflow or building a
rental portfolio for long-termwealth.
Do you want to scaleaggressively or keep it lean,
mean and simple?
If one of you dreams of anational flipping operation and

(01:26):
the other just wants a couple ofside projects a year, you're
going to clash.
It's like rowing a boat whereone person is paddling upstream,
the other is paddlingdownstream.
You're just not going anywhere.
Before you ever shake hands ona deal, sit down and map out
your long-term goals.
Make sure you're both paddlingin the same direction.

(01:46):
Second, complementary skills.
The best partnerships aren'tmade from clones.
They're puzzle pieces that fittogether well.
Maybe you're the numbers personwho loves deal analysis, while
your partner thrives at managingcontractors and pushing a
project forward.
Or maybe you're the rainmaker,always networking and raising

(02:07):
capital, while your partnerkeeps the books and systems
tight.
If you both have the samestrengths, you'll step on each
other's toes.
If you both share the sameweaknesses, the business will
collapse.
In those blind spots, look forsomeone who fills the gaps you
leave open.
Third, trust and integrity.
This is the glue that holdseverything else together.

(02:29):
You can't be in business withsomeone you don't trust to do
the right thing.
When the pressure's on Flippinghouses isn't always smooth
sailing.
Every project hear me, everysingle project throws you a
curveball.
Budgets blow up, buyers backout, contractors disappear.
Stress reveals character.

(02:51):
If your partner cuts corners,hides bad news or treats people
poorly, you're the one who'll becleaning up the mess.
I'll say this plainly I'drather partner with someone I
trust completely, who's a littlebit green, than a seasoned pro
I can't trust as far as I canthrow them.
Now, those are the big three,but don't ignore a few other

(03:12):
critical checks Reputation andnetwork.
Your partner's reputationbecomes your reputation and vice
versa.
If they're known for stiffingcontractors or over-promising,
that stink will follow you too.
Work ethic and commitment.
Resentment builds fast when oneperson is all in and the other
one treats the business like aside hustle.

(03:33):
Trust me when I tell you.
And finally, legal structure andexit plan.
Get everything in writing.
Who makes the decisions?
How is the money split?
What happens if someone wantsout?
Or worse, what if somebody getshit by a bus?
A solid operating agreement isway cheaper than a lawsuit down
the road.
At the end of the day, theright person can make one plus

(03:56):
one equal five.
The wrong partner can sink theship faster than an iceberg.
Choose wisely, protect yourselfwith the right structure and
make sure the person rowing nextto you is pulling in the same
direction.
That's it for today's play fromthe Demo to Dollars playbook.
Thanks for making us a part ofyour day.
Have a great weekend.
Thanks for listening to Demo toDollars.

(04:17):
If today's episode helped youmove one step closer to your
first or next deal, do me afavor Follow us wherever you get
your podcasts so you never missa show.
I'm grateful to be part of yourjourney.
Now get out there and getcracking.
Bye.
For now.