How does Joint Venture financing work in regard to fix and flips? How does this differ from other fix and flip loans?
@Mark Weinberg since you are using a non-traditional loan to "fix and flip" properties then it won't really matter. Talk with some Hard Money Lenders in your target area and have them talk you through the process. It should not make an impact to most lenders of this type of a transaction. Good luck!
If the JV is formally organized, like an LLC, it should be a simple matter of having the LLC sign as the borrower and the JV partners sign as guarantors. Banks typically are not fond of lending to real estate investors (unless they are larger developers through their CRE departments). Hard Money and larger institution lender-funds are built for making such loans. I hope that helps. Good luck.
@dougsmith is correct. I couldn't have said it better myself.
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