QUOTE (thejules @ Nov 12 2009, 07:03 AM) If it was me, and it is, I would start by investing in that city all by myself with my own money. That way I could develop the connections needed to build a joint venture portfolio. I would document that project complete with photographs and finacial reports. Then I would package that information up to present to my potential joint venture partners to show them that I have experience investing in this out of Province city. I hope that helps.
I second that whole heartedly .. build a track record first with your own money in an area you know well .. then maybe go to another city with your own money and prove a point again .. as the cost of doing business in another city or with another "product" is TRIPLE to what you used to !
Having said that, for example, we own a large asset near Dallas, TX .. and spend almost a year of research for lawyers, relators, property managers, mortgage brokers .. and in hindsight should have used a different mortgage broker and a different realtor as we have a sub-optimal mortgage in an OK but not WOW building .. so we should have spent even more time ..
Different provinces or countries have different LAW, different habits, different lending requirements, different real estate rules ..
