Joint Venture Deals

[Tiara Murray]

Good evening investors. I have been trying to flip my first house for the past 12 months to no avail. :roll: The bottom line always seems to be that I cant come up with the EMD (I've been laid off from my day job and my debt is steadily rising) to hold the property in place while i market to a buyer. I am wondering if my new strategy will work: :idea: I plan on doing JV deals with local successful investors, in which, I will find the property, do all of the due diligence and find the end buyer. All I am asking is for the investor to fully fund the deal, from EMD to close. Is this a good idea? Would investors be willing to partner with me on this strategy? I am desperate here people. I am really eager to get up and running. :wink:

[J Scott]

If the issue is that you can't come up with the EM, here are two solutions -- at least one of which should work for you:

1. Find deals that don't require much EM. In my experience, if it's not an REO or a HUD deal, you really shouldn't have to come up with more than $100 for EM for any private transaction with a motivated seller;

2. If you really want to do an REO or HUD deal, and need $500-1000 for EM, sell some stuff to get the money. Honestly, if you can't figure out how to come up with $1000 and aren't confident enough in being able to wholesale a deal where you're willing to sell stuff to get the $1000, you're probably not ready to start doing deals.

I don't mean to sound harsh, but if $1000 is the only thing that's been standing between you and this business for the past 12 months, it doesn't sound like you have your priorities in line.