Joint Venture Agreements

[Aaron Brown]

Does anyone know where I can get a template for a joint venture agreement? Also, looking for language to put in a mortgage for a private money deal that covers the acquisition price and provides an additional $20,000 as a draw for improvements. I want to write mortgage amount based on the acquisition price plus the rehab costs, but just trying to determine the best way to articulate in the document. Any help/thoughts would be greatly appreciated…

[John Warren]

@Aaron Brown not to sound snarky, but I normally just call up my real estate attorney and have him draft this. I have built good relationships with several attorneys here in the Chicago area where I invest, and a JV agreement normally costs well under $1,000 the first time. After that, you can have the attorney use the same general structure for the next one and keep rolling with less and less cost.