Hi All,
We are on our second purchase as real estate investors so we are on a really steep learning curve. its been fun, inspite of Don`s advice to keep real estate investing boring.
We are in the process of purching a 20 suiter, have used up most of our personal money and is being offered some jv money when we share with others what we are up to. Our lender is not concerned about any side deals for financing we may make but is adament about not adding a caveat on title 6 months after the deal closes. (We followed Don Campbell`s amd Barry McGuire`s advice...full disclosure of what our intentions are to our lender and to asked for their feed back)
Does anyone have any ideas on other ways to secure the jv`s financial interest without putting them on title either as co-owners or with a caveat that refers to the jv agreement? And stay clear of infringing on the securities commission`s regulations also.
If there is a solution to this, it will open up the possibility of adding jv partners after the deal is through, freeing up money so that we can respond quickly when other great deals materialize or even just to give us resources to deal with income fluxuation or emergencies in our investments.
We are newbies with lots to learn and are thankful to have such a wonderful network to support us. Thanks you in advance for your contributions.
We are on our second purchase as real estate investors so we are on a really steep learning curve. its been fun, inspite of Don`s advice to keep real estate investing boring.
We are in the process of purching a 20 suiter, have used up most of our personal money and is being offered some jv money when we share with others what we are up to. Our lender is not concerned about any side deals for financing we may make but is adament about not adding a caveat on title 6 months after the deal closes. (We followed Don Campbell`s amd Barry McGuire`s advice...full disclosure of what our intentions are to our lender and to asked for their feed back)
Does anyone have any ideas on other ways to secure the jv`s financial interest without putting them on title either as co-owners or with a caveat that refers to the jv agreement? And stay clear of infringing on the securities commission`s regulations also.
If there is a solution to this, it will open up the possibility of adding jv partners after the deal is through, freeing up money so that we can respond quickly when other great deals materialize or even just to give us resources to deal with income fluxuation or emergencies in our investments.
We are newbies with lots to learn and are thankful to have such a wonderful network to support us. Thanks you in advance for your contributions.