Joint Ventures can be another lifeline for those who want to put their real estate investments on steroids. A Joint Venture does not mean only money, but participation in a project in more than one way.
What is a Joint Venture Partnership?
A Joint Venture Partnership involves each partner bringing forth either a skill, money, land, syndication or expertise. Joint Ventures are quite common in larger projects but can also be utilized on a much smaller level, even when you are purchasing a single family home.
The Mechanics of Joint ventures:
- A joint venture must be made in writing with all deadlines and clauses stated. Everything must be spelled out step by step.
- A separate legal opinion must be obtained by all parties concerned.
- The joint venture agreement must be registered on title unless otherwise agreed upon by all parties.
- Due diligence is required by each party. Forms of due diligence include the inspection of the property, appraisals, projections, costs and miscellaneous expenses on or before signing the joint venture agreement.
- There can be privileges awarded in case of default, exceeding budgeted costs, delay in the project or unknown circumstances such as lawsuits due to the fact that potential unforeseen circumstances can arise in any project.
- Upon successful completion of the project, disbursements must be accounted for and gross/net profits must be awarded to the concerned parties.
Benefits of Joint Ventures
Joint ventures in real estate can be the first stepping stone to creating your empire of real estate investments. Before you chose a project and or a joint venture partner, make sure that all parties are aware of the pitfalls and risks involved such as; inflation, market booms and busts, devaluation of property values and any other circumstances. Being optimistic is definitely helpful because if everything goes as planned, all parties will benefit a great deal.
Joint ventures will allow you to fill in any resources either tangible or intangible where you may be lacking. They create a win-win situation because you are participating in a project where others will be bringing either money, expertise, land or even the project itself.
Joint Venture Apprenticeship
To learn the many different strategies and techniques of doing joint ventures in Canada, World Wealth Builders offers a two day intensive Joint Venture and Partnership Apprenticeship training. This apprenticeship will open your eyes to achieving more wealth.
To get more information about times and locations of our upcoming Joint Venture and Partnership Apprenticeship training, please visit www.WorldWealthBuilders.com or send us an email at vp@WorldWealthBuilders.com
Regular Tuition Fee – $9,995*
Special Price for Live Presentation – $6,995* (For dates and times check our calendar)
* for Canadian residents, GST or HST will be added.
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