Help on how to do a joint venture

[Monica Silvestre]

Hey investors, 

I have friends and family that are interested in investing their money and having me help them with research, purchase, rehab, and tenant placement. From what I've read, this sounds like a joint venture. I'm trying to figure out the best way to have them transfer me their funds and put some kind of % on top that would compensate me for my time/expertise. 

I want to be mindful of the tax implications we'd both face and would love any advice or referrals to someone who could guide me through the best way to do this. I'd also love to hear of any suggestions on appropriate compensation for this kind of project. 

Investments would be in Florida, not sure if that's important to note.

[John Thedford]

You can draft a JV agreement where you are equity partners OR you can borrow their money and pay them for the use of it. JV can be tricky especially if things go south. I personally prefer to borrow the money and take all the risk.