What and how do I look for a JV?
222 Pick your interest on where you would like to invest your money. 1. Flipping Houses 2. Condos or apartments 3. Raw Land 4. New construction projects or ? JV opportunities can be located through an internet search or right here on this website by checking the signatures of those who post. My partner is looking for those interested in doing a quick Saskatoon house flip. I have been looking for those interested in investing in U.S. vacation destination locations for a year from now. Look for some history on past performance of completed deals and the outcome. Real estate over the long run goes up even though there are some temporary dips so the idea is to get onboard as many deals as you can whether you do your own or go the JV route which will allow you to be diversified to a much greater extent. I am maxed out with my projects that i fully own, have one JV in progress and will be doing more with others come next Oct.
I have some money to invest but no time, I live in fort Mcmurray and run a busy understaffed business, so i could only meet a JV once per month MAX
222 Those setting up JVs will take care of all the work and some deals let the investor get involved as well.
I havent joined rein bc i would find it hard to come to the meetings, and i know this would be the best way, but other than that how do i find them?
222 Working 7 days a week keeps me out of that loop for now. Seems to be a great way to go to hook up with others with a passion for real estate investing and have taken action.
After I find on what do i do to screen them, how do I trust them with my money?
222 Their tough job like any business is to get established and have the track record. Typically, it takes 5 years to establish a business and being a business owner, i am sure that you are quite aware of that. Everyone is having the understaffed problem it seems. My wife runs a downtown salon which seems to have staff cycle in and out every 6 months making it tough to get established although it is growing. Very frustrating to spend hours training them only to see them run off elsewhere and lose what they had been building. How do you trust banks with your money? They guarantee that you will get .0001% on your savings accounts with them. Risk = Reward I have heard the horror stories as well with deals that have gone bad which gives each of us a fear factor to overcome. I think the key is well structured legal paperwork that outlines your deal in detail. When i invest in small stock companies, i limit myself to around $2000 per company. With JVs, it seems to run around $10K and up for each investment. There are some that offer limited partnerships and they boast that they have never lost money for their investors. How easy is it for a company to attract investors if their past record shows that ALL ventures are successful to some degree? Again once a company shows that kind of past performance, expect your returns with them to be lower as well. When the risk goes down, so does the reward.
Dean
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