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Old 05-22-2008, 11:20 AM
 
Location: Aurora, CO
87 posts, read 305,592 times
Reputation: 32

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Have any of you gone into a real estate joint venture? If so, how did you seek out the partner, and what advice would you give?

I am in search for a joint venture partner, and just need some direction on where to start. Any advice would be greatly appreciated.
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Old 05-22-2008, 05:36 PM
 
3,553 posts, read 7,214,283 times
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What kind of RE investment are you looking to get into?

What do YOU bring to the mix? Strategy? Money?

WHY do you need a partner?

I've been investing in RE for 30 years, a few times with partners. On a couple of those I'd have gladly given up a lot of my profit to have NEVER GONE INTO THE DEAL with that partner.

Let us know what you're looking for. There are a lot of RE investment websites out there.

golfgod
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Old 05-23-2008, 07:32 AM
 
20,793 posts, read 56,582,990 times
Reputation: 10622
The landlord for our office building is in a sticky situation with his 'partner' right now. Our landlord owns several buildings on his own but our particular building is a joint venture. His 'partner' hasn't put in a dime for upkeep, mortgage, etc. for over 2 years. He is not letting the building go into forclosure because his 'partner' won't do anything. He offered the 'partner' a buyout and he refused?? Our landlord is going to buy back the building after it forecloses. So, a short story long, pick your partners very carefully!!
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Old 05-23-2008, 08:04 AM
 
3,553 posts, read 7,214,283 times
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And have a "pre-nup" in the form of a buy-sell agreement. That could have prevented this. Although with this J hole he'd have probably had to go to court to force the sale, but it would've been cheaper than what he's got and will have!

golfgod
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Old 05-23-2008, 09:09 AM
 
Location: Marietta, GA
857 posts, read 4,632,298 times
Reputation: 836
My advice is... Don't do it! Try to limit yourself to real estate ventures that you can do on your own. The flaw in partnerships is that 90% of the time both partners feel that they are bringing more to the table than their partner is.
It is better to work on a smaller scale project that you can afford to do by yourself than to have a partner that will inevitably feel like they are contributing more than you and you will feel the same about them.
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Old 05-23-2008, 11:01 AM
 
Location: Aurora, CO
87 posts, read 305,592 times
Reputation: 32
To Answer golfgod's question... We would be bringing the "in" to the resort project... (the developer is very selective on builders), we would also handle all logisitcs of the building process. (Under 500k) Basically we are looking for a monetary contribution for the project... the investor can either be silent, or involved. We would structure it so there is absolutely no question who is doing what... and who gets what. The investor(s) would make a higher percentage than the builder.

The project itself is very very strong with a good amount of pre-sales. I won't mention it by name because I'm not sure I can on this forum, but it has a Jack Nicklaus golf course, a 13 mile reservoir, equestion center, mountain biking, the list goes on.

We really feel that this is a good move to make.
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Old 05-28-2008, 12:02 PM
 
Location: Aurora, CO
87 posts, read 305,592 times
Reputation: 32
I just got pricing back from the developer on this project and was able to put some #'s to paper.
Would any of you be willing to look at what I am proposing for an investor(s) and see if it looks sound? PM me if you can help.
Thanks
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