How to get JV Partners

[Jesus Lopez]

Hello everyone! Does anyone have experience on where to find jv partners and how it's done?

[Alexander Felice]

Few things:

Time

Joint deals are like long term dating. You have to be tied to someone for a while, so people want to make REALLY sure they want to do business with you before they jump in. Smart ones at least, be VERY suspicious of anyone who wants to do JV with you shortly after meeting. They either don't know better, or worse, they do know better and you don't.

Also, are you going to quit real estate? You can SAY no, but words mean nothing. Show up to your local REIA for a year or two consistently and people will be confident of your commitment

Persistence

Real estate requires constant action. So showing your persistence with people pays off. Reach out to people, then reach out to them again, then reach out to them again. If you're making progress through small wins over time, people will notice and be more likely to do business with you. 

Credibility

Do you know what you're talking about? Can the person you want to do business tell that you know what you're talking about? Are you constantly learning and getting better? Can you provide a value in return for this persons's partnership. 

What a lot of beginners want is to partner with someone who will do the majority of the work, this is not going to be a winning strategy. Another portion of beginners just want someone to fund their daydreams. The money partner wants to know you CAN pull the deal off, regardless of a persons claimed ambition or motivation, their credibility should be able to see through the fluff and know if you're really competent to make money for the team.

Experience

You know who wants to take a first shot on you? absolutely no one

Starting from scratch is certainly the hardest, and once you do your first deal it's noticeable how differently the community will treat you. 

That said, experience comes in many varieties. You just need a track record of responsible behavior, and a concise way to sell this track record to potential investors. 

Everyone on this board is looking for partners, especially money partners. Funny enough, finding money is actually quite easy. Finding talent and deals are the hard part. 

So be talented and showcase that or bring sick deals to the table. Then you'll have an endless stream of potential partners.