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Joint Venture Into The Future

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PartnershipBe it for poor credit, lack of cash/experience, over leveraged, the "bottom line" is you found a sweet deal you can't get financed. We've all been there.

So, how do you realize your real estate investment dreams and goals? Try a real estate joint venture! Here's how...

Form the venture: Real estate development has many moving parts. Locating, analyzing and acquiring the property requires expertise, money, credit, and more. Minimize misunderstandings from the onset by creating a joint venture agreement that:

  1. Establishes the joint venture's legal structure.
  2. Is clear about the parties' roles and responsibilities including who will:
    1. Locate the property? Contract
    2. Take title to the property?
    3. Be responsible for access?
    4. Handle books and record-keeping?
    5. Handle rehab and resale?
    6. Have signing authority with bank accounts
  3. Explains what will happen in the event of termination or default
  4. Clearly defines net profits.
  5. Sets out what happens in the event of disagreement. Forced arbitration?

Like in all relationships, clear communication is key. Having a legal agreement in place is crucial, not only to the joint venture's success, but because lack of one is sure to create problems in the long run.

Would you like to use joint ventures and other creative strategies to launch and/or expand your real estate investment goals? Request your no-cost, no-obligation consultation by clicking the registration form to the bottom right. We'll soon be in touch!


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