My First Deal with a JV
Investment Info:
Single-family residence wholesale investment in Houston.
Purchase price: $45,000
Cash invested: $40
Sale price: $50,000
It's was a JV split with a partnership. My first deal!
What made you interested in investing in this type of deal?
I wanted to get my foot in the game and this was the perfect opportunity.
How did you finance this deal?
We found a buyer.
How did you add value to the deal?
Bought a lockbox in order other potential buyers can evaluate the property if i wasn't available.
What was the outcome?
Found a buyer who purchased for 50k.
Lessons learned? Challenges?
Make sure that the buyer understands the entire contract! We ended up paying closing cost because the buyer didn't fully read the contract.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Patten Title Company, they're investor friendly.