Thoughts on JV partnership with GC..........

[Paul Costick]

Has anyone had experience creating a JV partnership with a contractor partner? I'm looking at a deal where I would find property, structure financing (looking at BRRRR) and be general point of contact for tenant. My GC partner would do initial repairs (at cost) and then any ensuing maintenance throughout lease term. My thoughts are this would lower initial renovation costs and also further maintenance costs as issues arise. To me, it seems a fair deal and my GC is getting an equity position for his labor costs (50/50 split). Please provide any pro's or con's you foresee... Or if there are better options than a JV partnership, I'd love to hear.

Thanks guys, Paul