Using Joint Ventures to Close on More Property

Using Joint Ventures to Close on More Property

 

As a professional, full time Canadian real estate investor, we must be growing our business continually. In order to do that, we must be looking at, and closing deals on a regular basis. To accomplish this we must always be acquiring more property or using the cornucopia of exit strategies taught in our trainings to create massive and passive income for ourselves…all the while using zero of our own money and with zero liability.

For example, you may find a property that  looks like a  great deal. The numbers work and it will be a money maker for sure. This would be perfect to close on, but as an educated real estate investor you do not want to put any of your own money into the property.

How can you close on that property with no money?

Through your networking skills, as outlined in many previous articles, we form a database. We must have a database of potential investors that want to come beside us and work with us in our real estate business. These investors will, of course , have certain criteria to make your list. You must seek out people that are able to fund the closing costs, down-payments, and qualify for a mortgage.

What is our part in the JV?

Joint ventures can be structured as many ways as there are deals. Here is one scenario:

You find a great deal on a rental property. You show your joint venture partner the numbers on the property confirming it is a great deal. The joint venture partner then closes the deal in his/her name,and as stated earlier, pays for all closing costs involved, down payment and gets the mortgage.

Your part is managing tenants, taking care of the incoming rents and paying the expenses. You both share in the monthly positive cash flow and at the point when you have agreed to sell the property, you share in the back end profit, 50/50.

If you have joint venture partners in place with the cash ready and available, you now have the ability to close quickly on any property. This is one key element to creating a great real estate investing business.
Canadian Wealth Builders offers many unique, practical, "out of the box" real estate investor trainings which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. To find out more, please go to www.canadianwealthbuilders.com.

 

Your success is our business!
Navtaj Chandhoke
Website: www.WorldWealthBuilders.com/live.html | www.preigCanada.com/membership
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