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JV Advice

Matt Parlato

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Jul 3, 2016
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I am seeking advise on my next property / properties . I am in a situation where I believe I may not qualify for a second mortgage . My father co signed my 1st home with me, I would now like to invest in more properties but believe I would need a Joint venture or co signer in order to do that. What is a fair % or way to set up a JV with someone who would just cosign on a mortgage ?
Thanks always for the advice it's very much appreciated !

Matt
 

Tina Myrvang

Client Care Lead
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Nov 15, 2010
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1,502
Hi Matt,
Call me at the office. I have some information for you.
 

Thomas Beyer

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What is your expertise buying homes ?

You should not do JVs with other people's money until you have some decent experience.

"Decent" to me means three similar houses.
 

Cory Sperle

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And at least three confirmed sales to prove forecasted returns are achievable.
 

Matt Parlato

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What is your expertise buying homes ?

You should not do JVs with other people's money until you have some decent experience.

"Decent" to me means three similar houses.

Well the JV wouldn't be with other people's money I would finance the property and would only need them as a cosigner.
 

housingrental

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Well the JV wouldn't be with other people's money I would finance the property and would only need them as a cosigner.
Do they have money on the line in the event of mortgage default?
Will the mortgage impact the funds they have available to borrow?
 

Tina Myrvang

Client Care Lead
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People often ask, "I am looking for a partner for this property, how do I do this?" First, fill in the REIN Property Analyzer form. This way you can quickly determine if this is going to be a good deal or not. How much revenue will this property generate? What are the expenses? Will it be positive or negative cash flow? Estimated Return on Investment? What are the market comparables?
What is in it for your partner if you are to find one? How would someone benefit by partnering with you on this property?

These are just a few examples of questions you may consider answering if you are looking for a partner to help. The bottom line is IF this is a good deal you should be able to find someone to partner with you on this... However, you have to be able to show to someone why this is a good deal and why they should be partnering with you. The key is in the presentation and proving to someone why it is a good deal.

REIN membership will give you the tools to secure your Joint Venture Partner. Ways to do this with your membership:

1. Analyze the Property using our Property Analyzer in your Member Back Office
2. Going through The Invincible Presenter program in your Member Back Office - top tips for presenting with power, poise, and presence in this audio book. Whether you're making a presentation before a crowd, or making a pitch to a potential JV partner, you will find his insights invaluable.
3. We also have all the agreements and forms in your Member Back Office to support your Joint Venture.
4. As a Premium REIN Member you will also have the networking opportunities at our Meetings and Events with other REIN Members.
5. Post in our FORUM is also a way to learn and gain knowledge on a Joint Venture partnership.
6. Finally as a REIN member you would have access to Experts that can help you with your Joint Venture deal and partners.

I hope this helps.
 

Matt Parlato

New Forum Member
Registered
Joined
Jul 3, 2016
Messages
12
People often ask, "I am looking for a partner for this property, how do I do this?" First, fill in the REIN Property Analyzer form. This way you can quickly determine if this is going to be a good deal or not. How much revenue will this property generate? What are the expenses? Will it be positive or negative cash flow? Estimated Return on Investment? What are the market comparables?
What is in it for your partner if you are to find one? How would someone benefit by partnering with you on this property?

These are just a few examples of questions you may consider answering if you are looking for a partner to help. The bottom line is IF this is a good deal you should be able to find someone to partner with you on this... However, you have to be able to show to someone why this is a good deal and why they should be partnering with you. The key is in the presentation and proving to someone why it is a good deal.

REIN membership will give you the tools to secure your Joint Venture Partner. Ways to do this with your membership:

1. Analyze the Property using our Property Analyzer in your Member Back Office
2. Going through The Invincible Presenter program in your Member Back Office - top tips for presenting with power, poise, and presence in this audio book. Whether you're making a presentation before a crowd, or making a pitch to a potential JV partner, you will find his insights invaluable.
3. We also have all the agreements and forms in your Member Back Office to support your Joint Venture.
4. As a Premium REIN Member you will also have the networking opportunities at our Meetings and Events with other REIN Members.
5. Post in our FORUM is also a way to learn and gain knowledge on a Joint Venture partnership.
6. Finally as a REIN member you would have access to Experts that can help you with your Joint Venture deal and partners.

I hope this helps.
That's looks great Tina, I plan on activating the free month you offered me very soon !
 

KeithnCalgary

Mortgage Associate & REIA
REIN Member
Joined
Mar 21, 2011
Messages
154
Hi Matt:
One of the most important steps is to know exactly where you stand in being able to qualify or not for a mortgage. Give me call or send me an email and we can take a look at this and verify where you are financially so that you can have a more secure plan moving forward. As a veteran investor with 18 doors and five joint venture partnerships I will help guide you on the right path.

Keith Uthe
REIA, Mortgage Agent - Enrich Mortgage Group
403-614-8843
[email protected]
 
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