- Realtor, General Contractor, and Developer
- Redding, CA & Bend OR
- 4,138
- Votes |
- 7,606
- Posts
LOAN, JOINT VENTURE - ADVICE WANTED!!
Everyday we have people on BP asking questions related to soliciting money for deals, joint venture partnerships, etc. Maybe some of you with knowledge or experience on these things can weigh in. @Will Barnard @Bryan Hancock @Bill Gulley
Some of this is specific to me, others for information for others. As you know, we build spec homes and small commercial projects. For years we've used conventional or hard money for our construction loans. Moving to southern California where the costs are higher for land, etc. means it stretches our funding sources we've used in the past.(Though we are able to do a few houses at a time). All of our loans are done through a licensed mortgage broker. This is NOT a solicitation for money but .. advice!
1. I know I cannot advertise for investors. However; what happens if someone contacts me and wants to invest their money in our deals, either as a lender or a joint venture partner?
2. Can a person advertise for lenders to find funds, if the deal will be put together by a licensed mortgage broker?
3. How can a person utilize people that don't have enough to fund the entire loan, but want to invest a lesser amount?
4. On joint venture agreements, if one person is putting up funds and the other is doing everything else from finding land, architectural design, construction, marketing, etc. (I actually have a detailed list on my website) what do you think a fair split would be?
It seems to me that it would make more sense to take money as a loan, but some have asked about joint ventures, which I've never done, so would appreciate as much detail as you can offer! Thanks everyone.
