Partnerships/Joint Ventures

[Nate Green]

Hi all,

I am just starting out with little to no money and no rental experience but have a solid base of knowledge and have some very basic real estate experience. To start I am looking to do whatever I can to break into the game and I thought partnering would be a good avenue to take.

For those who have done it, is there a specific type of partnership that has worked for you better than most? I was particularly looking into joint ventures with a limited partnership or LLC or land trust.

Note: I know that I need legal counsel. I am just asking to see what has worked for others.

[Darrin Carey]

@Nate Green

You stated one very important item: You have little money to start with.

I'd suggest you first focus on techniques that will generate quick cash for you rather than rentals. There's nothing worse than being cash poor and having a rental property need a furnace or something other major repair.

If you JV (no matter what form) make sure your financial partner can cover the unexpected.

As you learn more, grow into the transaction engineer, so you can match the deal to the technique.