j.v. partners

1 Reply

hello bp

i have a question on establishing a jv partnership. hows does dodd frank effect me and the jv partnership. the jv partner is a good friend of mine and we have know each other for over 8 years. i have never ask them for any money ever. he and his wife are very well off financially. my first concern is how do i approach them to get involved with me and real estate investing as a jv partner? i know there are no guarentees in any investment and they understand that also. they have bought and sold several properties as owners. my second concern is how do i build creditbility since i have never done a transaction yet. i have been studying bp for a while now and its always the money that holds me up. i do not have a property under contract as of yet although im am looking at a few now they may or may not work doing deal analysis.  

thanks to all for the great information on bp. i look forward to all responses.

i am the real newbie

I am no expert at all with no experience in a transaction but I have been studying creative financing and contracts. you can write up an agreement saying something like

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This agreement represents an effort to accomplish both parties financial goals

on this December 9, 14   levon Williams "borrower" and Mr. and Mrs. (partner) "lender/s" interred into a partnership agreement.

The achievement of any or all goals is not guaranteed neither to Levon Williams nor the intended partner. There is no assurance that the value of the real estate will be sufficient to return any portion of the investors' original capital. These transactions are being executed at said borrowers best efforts.

No information presented to said lender/s represents any final determination on investment performance.

While the information presented to said lender/s  has been researched and is thought to be reasonable and accurate, any real estate investment is speculative in nature. Levon cannot and does not guarantee any rate of return based on the information provided to lender/s

By reading and reviewing the information contained in this agreement , the user acknowledges and agrees that levon does not assume and hereby disclaim any liability to any party for any loss or damage caused by any transaction but will execute an honest and ethical effort to redeem all of lost interest, if any.

This agreement contains the entire agreement and party's will not be bound by any other miens not stated herein.

X ______________________________                    X ________________________________

Borrower                                                                  Lender

                                                                             X __________________________________

                                                                                  Lender

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im am not an expert but an agreement in writing it good  the only they can do is assure you regain their losses with no time period because its not state or you can add a time period you all negotiate what you all want to add in this agreement and I would negotiate regaining their loses in fee so you can pay portions at a time and not in one lump some

 and a word of advice studying contracts I have learn to always but in a contingency to be able  to terminate the contract when you cannot execute your exist strategy an escape clause  all you really need is one contingency and a good one for wholesaling is

This agreement is contingent upon a deed and title report (or something ) satisfactory to buyer and to third party assignee prior to closing . witch mean your going to assign it and if you caint assign it the agreement is no good . and if that is the case always call the seller and up date them on where you stand with their property. always put in aswell thatif this agreement is terminated the EMD is to be refunded to buyer

Hope this helps! good luck !

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