Joint Venture Agreement

[Tyler Stiller]

Does anyone have a joint venture agreement they would be willing to share with me? Here is the situation I'm getting involved in. If you had any other feedback or comments about the risk, I'd love to hear it:

- I provide 50% of down payment and closing costs. He is on title and mortgage, I am on neither

- Other partner is going to live there, pay all monthly mortgage payments, condo fees, and upkeep

- Any capital expenditure we would split

- This is with a brother, no concerns about legal recourse, but really we need an agreement so we are on the same page

Upon SALE of the property

- My portion would be to get my down payment back AND  the change in value less half the realtor fees. 

- His portion would be the difference, which means he gets all the mortgage paydown back

[David Steinbok]

Hey. 

I'm not sure if I like that deal. I would instead suggest that you treat your partner/brother as if he is a tenent and have him pay fair market rent to live in the property. You are after all investing in the property, and if he wasn't related to you, you would have a tenent. Then I would split the d.p, closing costs, and and repairs 50/50. Now you are equal partners. When it comes to selling, or refinancing then you can split the earnings evenly and he will get most of the rent he paid over that time back. And you both will get back your portions of d.p and closing costs. And I would make up a j.v. agreement.  Good luck