All Forum Posts by: Mickey Bradshaw

@Patrick Desjardins and @Ken Hobbick   I really appreciate that.  You folks have helped me understand and, even more so, appreciate the value that the senior investor brings to the table.  

I appreciate everyone's time and input on this subject.  Thank you!!

Wow, I really appreciate everyone's input.  I have a lot to chew on.

@Patrick Desjardins Thank you for your input. I appreciate your perspective. Please understand though that I'm really not trying to skew anything. My desire with this post was to get an idea of the typical JV arrangement with regard to notes. I wanted to validate what I was quoted was fair and standard and to share my thoughts/feelings/fears in regards to the agreement. Just part of my due diligence process.

@Jay Hinrichs I completely understand your point now.  I'm sorry that I was slow on the uptake  :)

@Chad U. Thank you for sharing your experience.  In this agreement, I will be responsible for all of the workout expenses.

@Ken Hobbick Thank you for sharing your perspective.  I am definitely interested in learning the ropes along the way and I appreciate that that takes a lot of time.  We have discussed my desire to be more active than passive and they were on board with that.  You also make a very good point about multiple exit strategies and discussing expenses if there is a joint decision to do a rehab.

Thank you, @Chris Seveney. One last question, is 100K minimum investment for a note JV reasonable/common?

@Chris Seveney thank you for your input. Your explanation makes sense. I guess one of my concerns is this. If the experienced investor has X number of personal notes and Y number of JV notes, do the personal notes get priority because she/he has money to lose on those? I guess, in the end, this all comes down to vetting your partner.

Jay, I didn't really understand what point you were making.

@Linda Hastings thanks so much for your input!! I noticed in that first link that you mentioned that you were evaluating whether or not to do a JV agreement a year ago or so. Did you ever end up doing it? If so, would you mind sharing your experience? Btw, that google search that you gave me is perfect!!!

@Tim Simmons, thank you for your feedback.  I anticipated that it may be negotiable.  I might ask them to add some cash to the deal and see what happens.  

Hi,

I'm new to note investing and I am considering a JV arrangement to get my feet wet and learn more about the process. Is it typical in a JV arrangement for the newbie to provide ALL the money and the experienced person to provide the know how and actually do the work (most of it anyway) for a 50/50 split? I ask because I'm a little uncomfortable that the "expert" has no real skin in the game and if it went sideways they aren't out anything but time. I'd appreciate any feedback regarding folks experience with JV agreements regarding notes. Thanks in advance!!

Hi Michaela,

I would like to be added to your buyers contact list as well.  For now, I'm probably more interested in multi family deals.

Thanks,

Mickey