Would you JV with somebody i’m just one house?

[Joe S.]

So I have JV with people before if it was a quick In-N-Out transaction such as a whole sale ect. Other than family I've never JV with somebody on a property that would be held long-term.

I have a property that I have contracted that I am considering possibly inviting a friend into the deal in exchange for a very light down payment, most of which he would get back in a couple of months. The challenge is if we done it this way it would be like I was creating a long-term partnership on one house. I'm a little reluctant to be involved with someone long-term over one house. I definitely wouldn't want to create an LLC over one house due to extra bookwork and tax prep. Maybe I'm overthinking this and this would be easy Peezy no big deal.
 

What’s your thoughts? 

[Daniel Tanasa]

Hello Joe, 

I am on the same page with you. Is easy to do a JV with somebody you don't know very good for a quick in and out wholesale or flip, but is a whole new ballgame to do a long term partnership. If you're just getting to know this person, I will probably try to structure it as a debt partner instead of equity partner.

After you do a few deals together and you get along well and you feel like your long term goals area aligning, you can consider holding some long term properties together. 

Good luck!