Tips I Learned recently for Partnering for a JV deal!

[Kyle Curtin]

Goooood mornin’ guys!

I learned a couple awesome tips recently from much more established investors in my market about partnering on joint venture deals that I really have been thinking about and I wanted to share them with you guys! I am VERY new to this partnership space at the moment, and currently in my first partnership and have lots to learn over time!

1.) Expectations: Being on the same page as your partner is ABSOLUTELY key and the expectations regarding who is managing what (third party and/or one of the members of your team), who is signing the loan, the length of ownership ( from a couple years from inception to stabilization/30 yrs or another period of time), and other aspects are very important to figure out early on.

2.) Going deal by deal: This was a big one, it is a really important factor that you guys can work together through different situations, and sometimes you are meant to work together, and sometimes you are not. It is wise to go deal by deal and feel things out with each other over time and see where it goes.

I would love to hear more tips that you guys have below! Happy Sunday! 😁