Joint Ventures and Partnerships

[Rob Jones]

Good Afternoon BP!

Lately I've been thinking to myself and thinking out loud(mainly to my wife) about bringing some of our friends and family into our real estate ventures.  My family and my wife's family have seen what real estate has been able to provide for my wife and myself and I know they are interested but I am having a difficult time getting them to "bite the bullet" and go in on a property with us.  At this point I'm not sure what's holding them back and, to be honest, I should probably just ask them.  

In your past experience, what has been the tipping point when attempting to get a family member to do a JV or partnership with you on a deal? Was there anything, in particular, that you did or said that really got them to see the light? I've thought about getting my portfolio together and showing them the numbers but I'm not sure if that would even matter. My parents are getting ready to retire and I want them to be able to have some extra income in retirement and I don't see any better way to do that than to invest in real estate.

I look forward to everyone's feedback!