All Forum Posts by: Ron Biggs

😂great response!!

But come to think of it I got cut from the JV basketball team but then started later on varsity !

So I guess I have now figured out at least two JV's 😁

Why do I think JOINT VENTURES are such a great way for real estate investors to grow their business and for someone who’s looking for a great passive income???

I have been talking about joint ventures quite a bit lately and have had several people ask me what are joint ventures and why I believe in them so much so I thought I would spell out my thoughts on just this topic.

Of course, there are untold numbers of things you can do with joint ventures (JV's) but I will be going over JV's concerning real estate investing and for this discussion building a rental portfolio.

I truly do not know a better way for an investor to build their rental portfolio and at the same time your finance partner have a truly great passive income!

The two partners that make up this type of JV are:

-the real estate investor

and

-the person who provides the financing

The real estate investor provides the knowledge to be able to:

-find the right kind of property

-negotiate the best price possible

-handles the closing working with an attorney

-renovates the property which includes getting the best pricing and overseeing all the construction

- finds the best tenants and manages the property

The person who provides the financing:

-provides the financing – and that’s all. So, it is a truly passive income secured by real estate.

Sounds simple doesn’t it? It is as long as you get the right property at the right price and rehab it to be a great home for your tenants!

Here is a real life example of a property we are getting ready to do to show you how a JV is such a benefit to the real estate investor and the person who provides the funding!

The property is a 3 bedroom 1 bath house in a nice area and the area is improving. Below are the numbers associated with this house.

Purchase price $75,500.00

Rehab cost $28,500.00

Total invested $105,000.00

After repaired value will be $140,000.00

This equals $35,000.00 in equity

The rent will be $1,195.00

How does this financially benefit the investor and the person providing financing?

This varies on each deal but on this property, we are doing a 50/50 split so when the home is renovated the 2 members of the JV have $17,500.00 in equity each. They also will split the rent proceeds after taxes and insurance which will end up being about $522.50 going to each. So, at the end of one year each will have earned $23,770.00. This is after just one year! Of course, a longer term provides even more returns! Plus, all are protected as the property was bought and rehabbed at 25% under value.

This are just some of the reasons I believe this is a great way to build a rental portfolio and for the person proving financing to make a great and well protected return.

Any questions or comments fire away! Happy Investing!!

By the way these are just my thoughts I am not an attorney or accountant and not selling anything so this is free info and that may be all its worth 😊

We are looking to pick up a couple of houses ASAP!!

Prefer ARV from $125 to $275k but will consider all with good margins!

Would like to stay in the Richmond VA area including city of Richmond, Chesterfield County, Henrico County, Powhatan County or anywhere in the Central VA Area.

30 years experience and can close just as quick as you need!

Just completed out last deal and it sold in one day and need more!!

Thanks and look forward to hopefully working with you!!

I have 2 tenant buyers in the Richmond VA. area that I would like to help get a mortgage so they can go from tenant to owner. Both have credit scores that are not great at around 600 but have good jobs and incomes.

Any suggestions for them to get a mortgage even if it is for 1 to 2 years while they get their credit in better shape would be helpful!

Thanks in advance for any help!!

I invest in the central va market and I would be interested if helping out and see it we could put together a win win type transaction 

Thanks 

I saw this and wanted to share because it struck me as so true! We have been doing real estate for over 30 years in the Richmond Virginia area and rather we are looking for another house to Flip or reaching out to find more private money lenders or looking for more wholesalers to work with the hustle is more important than the tactic.

My business has had its ups and downs and most of the time we have had a great tactic or plan in place! But without the hustle to reach out to the wholesalers or go the the Real Estate Investor meetings when you would rather stay home that night or network to find the private lenders or go check out one more house your tactic is not worth much!

This little story below says it well!

"Finding good deals is 10% tactic, 90% hustle"

"Every morning in Africa, a gazelle wakes up and knows that it must
out run the fastest lion that day, or it will be killed. Every morning
in Africa, a lion wakes up and knows it must run faster than the slowest
gazelle that day, or it will starve. It doesn't matter whether you are the
lion or the gazelle - when the sun comes up you'd better be running.

So lets all get up running tomorrow with a good tactic or plan and succeed in this great real estate investing business!!

Best of luck!

Patrick,

Great way to think outside the box as they say! Keep us in mind as we are always on the look out for properties and this would fit what we are trying to do in our business!

Good luck and hope to work with you soon!

3 contracts! You must be doing something right!

I am looking to buy so reel them in and let me know what you have.

Good luck!

Happy New Year everyone!  Hope your year is successful and you are in great health!!

We are on the hunt for a couple of houses to purchase, renovate and resell!!

Our goal is to do 2 a month this year so we are after a steady stream of properties. We are looking for the bread and butter type house with an ARV from $150,000 to $ 250,000 but will vary for the right property. Condition does not bother us as we have spent as much as $150,000 on renovations on a single house. You should see what we did with the house we called "When The Hoarder ran into Flip this House!!" So bring them on!

Look forward to hearing from the wholesalers and other Richmond area investors! We like Chesterfield County, Henrico County, Hanover, Powhatan and any areas in the Metro Richmond vicinity.

We use cash, hard money and private money and are the real deal and can close as soon as you want us to!

Lets help each other prosper this year!!

Thanks,

Thanks guys! George P the ceiling is not as low as it looks and is at 7'6". This is the upper room (4th level) that is accessed from the 3rd level hallway and is staged as an office but would make a great playroom or bedroom.

Yes did have it staged by a prof. We used to do all our own staging but we now leave that up to the professionals. That way we focus on what we are good at which is finding and renovating the homes!

Again thanks for the compliments all!