We closed on our newest rental property this week, and handled the proceeds for our joint venture (JV) partner on our flip that closed last week.
A lot of people ask us how they can get started in real estate investing; whether it be flipping or wholesaling or buy and hold. Doing a JV with a more experienced investor can be one of those ways. A JV is a one-time or ongoing partnership where each partner brings something to a real estate investment, and splits profits accordingly.
We started our JV with this partner because we are great at handling all aspects of the transaction and funding side of a flip. We suck at construction and project management. Our partner is really great at those things. So we handled our end, they handled theirs, and we split the profits of the flip 50/50. It’s a total win-win, so we’re going to do lots of deals together.
There are tons of different ways you can get involved in a JV. How that happens depends on what you can bring to the table. Maybe you’re really great at finding properties. Maybe you’re a great negotiator. Maybe you have money to invest but no time. Maybe you’re really handy in construction.
We’re always on the lookout for great partnerships. So if you’re interested in doing what we do, let’s talk more to see how we could JV a deal!