If I want to joint venture with the seller on a rehab where they have no mortgage and will let me put up the money for fixing the property, how do i set this up? if anyone has a sample agreement they wouldn't mind sharing, that would be great too.
Go straight to your lawyer and have him or her set it up for you. It will be worth the $150 or so for complete piece of mind.
i already spoke to him and i think he needs a little direction as to how it should be structured. any ideas?
If he is asking that question he is not the real estate lawyer you need, Find another.
i figured you'd say that. he actually is a real estate attorney. he just never had this type of transaction before.
i see many investors who talk about this type of rehab setup, yet it's hard to find any sample document that spells out the terms
That's because each one is different.
He should still have a base to work with, If he does not then again move on to someone more experienced. Remember your team members should be A students.
i agree that each one is different. is there any source you know of that i can find some examples so i'm more familiar and can make an educated decision of what route to chose instead of just going the route decided by my attorney?
what type of agreement did you ever settle on? Do you happen to have a copy to share?
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