Where can you find JV partners

[Dan_Eisenhauer]

I am a fairly knowledgible real estate person, but relatively new to my city, Vancouver. I am spending most of my energies in Alberta. Therefore I have few contacts.

I thought it might be an interesting discussion to learn some innovative ways others have used to find JV money partners.

If you have found a method that has worked for you, eg, hosting seminars, or vehicle signs, etc. please share your experiences with those of us who are finding this a challenge.

Thanks,
Dan

 

[GregGillespie]

Hi Dan,

Welcome to BC! I would suggest starting with your closest circle of contacts...friends, family, coworkers, etc. These people will tend to trust you right from the get go and may be inclined to support what it is you do.

We get most of our JVs from referrals as well. Your close circle of contacts will inevitably know someone who is interested in real estate and these referrals now become part of the `inner circle`. They too usually know someone to refer and so on and so on....

We have success at networking events as well...Chamber of Commerce, REIN, local investor groups, other investment presentations, etc.

Ask yourself, who is my target market and where do these people hang out, conduct business, etc.

Good luck and please let me know if I can help in any way!

Best regards,

Greg

 

[DanBarton]

Hey Dan, (What a great name)

Your currently looking in one great spot for attracting potential JV partners, ie. right here on MYREINSPACE.

I have found that networking events are great at meeting people, (such as Chamber of Commerce, BNI ect...) but from my experience I have usually found these leads seem to be distant and unqualified for what we are looking for. Secondly it seems everyone is there for their own interest and shoving a business card at you, I tend to take a different approach and use the REIN approach of `How can I help you?` at these type of events which I believe people really appreciate.

I believe Referrals are your key. Locate people who you already know on a personal level and who already believe and trust in you and what you are doing. Utilize these people to track down your `dream investor`. 10 people that spend 3 hours a week talking about you and what you are doing is going to be more beneficially than you working to spend 30 hours a week doing it yourself (and even if you did think how better off you would be). A hint is to build strong relationships with Mortgage Brokers, they are an excellent person to be referring you - they seem to have access to those dream investors with a ridiculous amount on the LOC they don`t know what to do with.

I`m big on ideas, so when I have a new ideas of how to attract a Joint Ventures I just get out there and do it (whatever the idea is). See if it works, if not move on. I have learnt a lot by just trying them out and if they haven`t worked have often lead to other ideas that have.

Hope that helps!
Dan