- Joined
- Jan 14, 2011
- Messages
- 97
I am currently trying to market to my friend back in Esterhazy SK, (which is in boom time right now with the new potash expansion) he owns a couple properties with crazy cash flow (5 bd house renting full capacity @ $800/room!). I asked if he wanted to diversify his portfolio into a different market (Edmonton where I now reside) and do a JV together.
Now it is just a matter on selling the economics to him and let him know he is making a worthwhile decision if he so decides to.
So now I am finding myself giving him research i've done on my own and stuff I get from other sources, but when getting down to it we need to find a property. This is my first JV, so I am not sure if I should be actively looking for a property all the time, crunch the numbers, then give him the details...OR just analyze one property I was considering in the neighborhood of interest, crunching the numbers and giving him just an example of what to expect.
My gut tells me just to give him an example because he is not a solid JV partner yet.
I am wondering what other investors do to attract a JV partner and how they go about promoting deals.
Now it is just a matter on selling the economics to him and let him know he is making a worthwhile decision if he so decides to.
So now I am finding myself giving him research i've done on my own and stuff I get from other sources, but when getting down to it we need to find a property. This is my first JV, so I am not sure if I should be actively looking for a property all the time, crunch the numbers, then give him the details...OR just analyze one property I was considering in the neighborhood of interest, crunching the numbers and giving him just an example of what to expect.
My gut tells me just to give him an example because he is not a solid JV partner yet.
I am wondering what other investors do to attract a JV partner and how they go about promoting deals.