Doing Joint Venture's

Doing a joint venture these days is almost the latest fashion.

I receive a lot of questions asking for advice about joint ventures. In particular, how to start one, especially with limited money and knowledge.

Entering into a property joint venture is ALWAYS second best, to doing the deal yourself.  So, getting into a property joint venture must have a good 'payback' for both parties.

Whatever you lack is usually the reason for entering into a JV.

Joint ventures of any kind, work best if they are between equals. However, entering into a joint venture means you have to take into account another persons attitude, feelings, decision making process, (or inability to make a decision), whether they have a logical and sensible mind ... the list goes on.

You must be clear as to why you are doing a joint venture, and it must be secured by a legally binding Joint Venture Agreement.

The Joint Venture Agreement sets out what each party will contribute, both money and effort, and sets out each party’s obligations.

It also sets out what happens if the parties 'fall-out' with each other, as well as the division of profits or losses.

The reason for entering into a joint venture should be either to take on a deal which you otherwise couldn’t quite manage to pull-off by yourself or perhaps is too risky for you to do on your own.

Joint Ventures are covered in detail in Module 8 of the Build Your Property Empire home study course. The course CD-ROM also includes a legally binding Joint Venture agreement which you can customise for use on your next joint venture property deal.

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