Updated almost 10 years ago on . Most recent reply
Mechanics of a Joint Venture
Can someone go into a little detail about how exactly a JV agreement looks/works (specifically for rehab/buy-fix-sell)? I'm familiar with the concepts, but I specifically mean how is the bank account setup? What type of account is it? Does your partner just deposit $200K in your checking account and say 'have at it'?? Or does it work on draws similar to HM Loans?? When is comes time to purchase the property are both of our names/entities names on the documents? What type of contract is used and where can these be found? Are there tax considerations to be accounted for?