Finding partners for Joint ventures. Have great BRRR and flips

[Varun Batra]

Hey, I'm 21 old.

Happy Canada day to all. 🇨🇦🇨🇦

I bought my first live + rent here in Alberta, Canada as just a work permit holder after 6-7 months of graduating as a international student. Great deal as it need work and I made great connections (realtor, broker, lawyer and trade people) in the city of lethbridge. Living for free and cash flowing.

My plan is to build up my portfolio to goal number 5mil equity by 2025. Mostly in commercial and MFR.

Right now, I need your suggestion on how to find investors here to do jv deals with me.

Current deal I have in hand is 3 bed SHF. Divorce sale, tax assessment at $256k. I got it under contract for $225k, could get it more lower if I can close soon. After putting 30k-40k with my trade people. The realtor said conservatively it will around 290k to 310k. I could do flip or I could do BRRR. Many ways to play on this one.

My personal goal is to do BRRR all year along.

So should I market on BP, Facebook groups in Canada etc etc to get more investors and do a fair business.

What I'm bringing (deal, hustle, rehab people, property management after rehab)

I believe fair share is 50% equity and 50%cashflow for money and knowledge partner.

Any advice to achieve my goal. Any books recommendations for commercial and multi-family residence.

[Chris Baxter]

Congrats @Varun Batra on being proactive. I'm not a flipper so take my comments with this in mind. I think flip margins are tight on this deal. Assume ARV of $300k -$225 purchase - $5k closing cost - $40 renos - $18k selling fees = $12k potential profit. If you are asking a money partner to put up $265k to potentially earn $6k (50% of profit) its going to be a tough sell.

BP just launched a new MF book, and there are many previous threads that discuss Canadian-specific books (search Candian Book).  Good luck!