JV Equity Partnership Question

[Angela Holstien]

I have been hired by a company to find rehabbers for their JV Partnership fund. They are looking for experienced rehabbers in major cities around the country. I am pretty good at marketing, but know nothing about Real Estate ;)

Any suggestions on where to start?

Angela 

[Ben W.]

Angela, as the earlier posts implied, you really need to do your homework. Doing this remotely could pose some challenges. I would suggest that you get a clear direction from the JV investor as to the criteria: rehabs come in all shapes, colors and sizes. Some are more cosmetic while others require very thorough coordination as multiple subs are being used. In Ohio and many cities, contractors have to be licensed by the municipality. Get a resume, references, scope of capabilities, etc. Not to impose my personal concerns, but you also need to vet the investor company that hired you. Get references from contractors and investors who partnered with them to ensure that they are easy to do business with. Many of these companies try to exert extensive control and what sounds like a great opportunity on the front end could turn into a nightmare as you have to deal with unhappy rehabbers, investors, investor, etc.

You will learn a lot about the RE business along the way.  It is a fabulous industry.