BuildRRR- Can it work?
Morning BPers!
As the title says, I am in the process of starting a BuildRRR. I am approximately 85% of my way through the prep and am about to buy the land to start the build. This will be a Joint Venture with the builder. I plan to consult with my lawyer but I also wanted to chat with yall. I am not experienced in JV's. It will be structured this way for the entire build and into the refinance portion. What should I be aware of for the JV process? Will all the details be spelled out in the Operating Agreement? When we refinance and put the deed in an LLC for asset protection, how do you protect both side of the JV under one LLC? Should we then form a partnerhsip LLC?
If anyone is interested in the numbers behind the deal, let me know and I will post them! Thanks in advance for the advise!