Joint Venture Strategies

[Robin Ferrier]

Hi Folks,

I wondered if anyone could direct me to a good book, article, manual or other document that would give me a better insight into how joint ventures work in the property business. I am looking at possibly getting into a joint venture with a property investment colleague to rehab residential properties to then flip or rent out. Yes, the adviseability or otherwise of this idea is in itself a subject for debate but my main concern just now is to get the JV right, at the very outset. I believe there are many strategies in structuring a Joint Venture but I don't seem to be able to find any good info on the subject. Can anyone provide any guidance as I don't even know if I need/want to set up a vehicle for the JV such as a limited liability company.

What are the pros and cons of a jv?
What are the dangers and benefits?
Are there any particular financial issues I should be wary of?
Are there any goods tips for profits with a JV versus going it alone?
If the joint venture was for projects overseas, would it be better to establish the JV agreement here or in the country of the project.
Any absolute no nos as regards JVs that you know of?
Any success or horror stories?

Sorry for so many questions but if anyone can either guide me to a book or manual, or better still provide any first hand advice I would be most grateful.

Boab