JV Partners - Where/How Did You Find Your Best JV Partner

[solidoakreturns]

Hey Fellow REIN Members,

Can you share with the group how/where you found your best JV Partners?
What was your method?
Who did you end up working with?

I think a lot of REIN members would like to hear how you did this including myself.

 

[jarrettvaughan]

QUOTE (solidoakreturns @ Oct 12 2007, 01:27 PM) Hey Fellow REIN Members,

Can you share with the group how/where you found your best JV Partners?
What was your method?
Who did you end up working with?

I think a lot of REIN members would like to hear how you did this including myself.

I would also like to know about the process of legal contracts for a JV. Is there a standard form contract that can be used (if so, could it be posted or emailed)? If it is nessacary to use a lawyer to make the arangments, what type of leagal fees are expected and does the cost get split between each partner????????

I know that every partnership is diffrent but I am just looking for general info. Thank you so much for your help, all of us beginners really appreaciate it!!!!!!!!!!

 

[NickStewart]

QUOTE (jarrettvaughan @ Oct 12 2007, 03:27 PM)
I would also like to know about the process of legal contracts for a JV. Is there a standard form contract that can be used (if so, could it be posted or emailed)? If it is nessacary to use a lawyer to make the arangments, what type of leagal fees are expected and does the cost get split between each partner????????



I know that every partnership is diffrent but I am just looking for general info. Thank you so much for your help, all of us beginners really appreaciate it!!!!!!!!!!




My joint ventures came from talking about real estate with everyone and anyone who wanted to talk and then being ready to answer questions intelligently when the questions came up.



... and you'll see the sample forms. As will all legal documents, you should run them past your own lawyer first to make sure you understand it and then your JV partner should also seek their own independent legal counsel. Legal fees vary (mine were fairly cheap since I have a great relationship with my lawyer) and it's up to you and your JV partner to work out who pays for what. If they're putting up $80 large to JV on a property, a couple hundred extra for the peace of mind of a legal opinion is minor...



Good luck and happy investing!



Nick

 

[DonCampbell]

Hi Jarret,

Good to hear from you again. There are quite a few converations on JV`s going on in the forums, I trust you have visited them and read through. Some really great stuff. There are all the template agreements, marketing materials and corporate structures etc in the 750 page Joint Venture Secrets pacakge you can read about it at this link:

Joint Venture Secrets Package

Here`s the link to the search (using the search function on this site).

Joint Venture Search

Trust all this info helps!

 

[jarrettvaughan]

QUOTE (DonCampbell @ Oct 12 2007, 10:36 PM) Hi Jarret,

Good to hear from you again. There are quite a few converations on JV`s going on in the forums, I trust you have visited them and read through. Some really great stuff. There are all the template agreements, marketing materials and corporate structures etc in the 750 page Joint Venture Secrets pacakge you can read about it at this link:

Joint Venture Secrets Package

Here`s the link to the search (using the search function on this site).

Joint Venture Search

Trust all this info helps!

Thank very much Don, I have read all of the forums on JV and I appreciate your direction the the JV package. Thank you for coming to BC, I hope to see you today in Vancouver today.

 

[CalvinPeters]

I just do what Arlen said to do in the CD`s "make every conversation a real estate conversation" It cost me a girlfriend, but my networth has gone up substantially!

 

[BobHudson]

Show me the money!!Quite often, people ask me how I find cash investors to participate in our lease option deals.
Along with finding an appropriate house and finding a qualified tenant, money is the third important ingredient for us.

The model that my partner, Thomas, and I use is geared to deliver 20% or better to the investor. With that model, I have something significant to offer. Thomas and I also have a track record so we have the credibility needed to convince an investor that we know what we are doing.

But prior to all that, I had to develop a network of potential investor partners. How did I do that? I used techniques taught at REIN, such as:

• Make every conversation a real estate conversation;
• Have a specialty (eg. "Lease 2 Own Bob"); andFocus on band 1 (people you know) and band 2 (referrals from people you know) while not wasting time with band 3 (general public).

Real estate investors believe in the value of real estate investing, but real estate investing is not for everyone. You need to speak to many people before you find the few who are willing to invest with you. Best advice: keep working on finding new investors; you never know from where they will come. Just ask my dentist who has heard my pitch multiple times - albeit distorted by freezing and his tools in my mouth - but he has yet to invest with us.

Also have a look at my blog at http://lease2ownbob.blogspot.com/

Hope that helps,
"Lease to Own" Bob