JV with another investor who is the property owner

3 Replies

When you do a JV on a property with another investor, the JV contract used should show that he is selling the property to the buyer and he will pay me a consultation fee in the amount of _______? And is that the only contract he needs to send to the title company since he already owned the property but I bought him the cash buyer?

Originally posted by @Travar Taylor :

When you do a JV on a property with another investor, the JV contract used should show that he is selling the property to the buyer and he will pay me a consultation fee in the amount of _______? And is that the only contract he needs to send to the title company since he already owned the property but I bought him the cash buyer?

 This sounds illegal but people from your state might want to chime in. That won't fly in FL.

John Thedford, Real Estate Agent in FL (#BK3098153)
239-200-5600

@Travar Taylor as long as you have something in writing and signed you will be Ok. To be safe check with your RE attorney but if there are any issues in getting paid you can hold up a closing with a writ of Lis Pendens which will tie up the property till you get it resolved. Once you show a pending litigation its funny how things get resolved especially if you have it in writing

Ian Hoover, Real Estate Agent in PA (#RM423721)
724-492-8312

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