Joint Venture Agreement

[Elizabeth Seiferth]

Hi All!

We have an LLC for flipping and are in discussions with a friend whom is a GC on partnering on flips. We have not ironed out any details yet but we will put together a joint venture agreement ahead of moving forward with any deals. Right now, we've been discussing one party putting up the down payment, and the other party putting up the construction costs and splitting profits 50/50. I'm curious if anyone has any examples of a joint venture agreement that they might be able to share?

Thank you!

liz

[Katie Balatbat]

@Elizabeth Seiferth

The type of document that you need and are envisioning may also depend on whether all work is done within the LLC (i.e., all people are owners in the LLC and governed by the same operating agreement) or whether the LLC is just the sole owner or co-owner on title to the property with the other party. This is probably something that you would want to get an attorney involved with, as well as CPA, due to the intricacies.

*This post does not create an attorney-client or CPA-client relationship.  The information contained in this post is not to be relied upon.  Readers are advised to seek professional advice.