Joint venture ideas

[donnahamilton]

Hi. Looking for options to present to a friend that is looking to settle an estate. Father passed away. There are 2 other siblings and one wants cash now as he has terminal cancer. Friend can pay out siblings but has no time to deal with property.

At this time I do not want to get a new mortgage or invest any cash. Friend is willing to finance me but there is no basement suite and since it will be 100% financed it won't cash flow.

Also said he would've interested in a JV.

How would this work? Start with appraised value then any increase is 50/50? After taxes, insurance and maintanence the rest of income( rent) is 50/50 also?

Am I on right track or is there a better way.

 

[invst4profit]

If it won't cash flow and you are not purchasing it below market value what is your interest in the property.



I would suggest to your friend to simply turn it over to a Real Estate agent and sell to settle the estate. He is the executor, that's his responsibility.