NPN Joint Venture: What should I be looking for?

[Account Closed]

Hello Note Investors - I am considering jumping into a JV to get started in the world of notes. I'd like to start with a secured 1st position NPN. Ideally, I would provide capital but also get exposure to the entire process from tape to exit. Meaning, I would prefer that this be a learning process rather than a purely passive endeavor. Does this kind of JV exist? If so, how would you suggest that I determine a good fit? Are there certain questions I should ask when vetting potential partners? Any red flags? If you have had a particularly good or bad experience with a JV, I'd love to glean any wisdom you can offer. Thanks so much in advance for sharing.

[Tim S.]

Look for someone with a good track record of success, a decent number of deals under their belt.  They should have a deal to offer that you are interested in, you like the asset, the location, condition and terms of the deal.  I'd recommend Wayne Snell (Platinum Ventures), Jay Tenenbaum (AZP Capital) and Adams Adams (AJA Realty Investments), among others.