@JohnGesa Still not bad at Prime - .5 to .9 though. They are calling for rates to stay steady over the winter
Let’s face it, real estate investors tend to work better alone. So embarking on a joint venture partnership can sometimes be a bit intimidating. Your relationship with your joint venture partners is very important to your success as a real estate investor, but giving up complete control can be enough for some real estate investors to shy away from partnering all together. The good news is that it’s possible to create joint ventures that are both immensely profitable and allow you to maintain your professional independence and keep the complications from dealing with other investors to a minimum.
Form your joint venture partnerships with these factors in mind:
1. Do you and your potential partners have common goals?
Discussing your ultimate investing goals with your jv partners and ensuring you all have the same end result in mind will make sure you are all moving in the same direction and helping one another toward each person’s goal with a mutually beneficial end.
2. Can you and your partners communicate effectively?
Two partners who do nothing but argue are not going to help anyone. Similarly, if partners don’t talk at all, nothing will get done in the end. One partner who is too aggressive and demanding is a recipe for disaster. Take the time to find jv partners with whom you can effectively communicate. Sometimes it can take a few tries to find a partnership where effective communication occurs naturally, but it’s worth the search in the long run.
3. Do you and your potential partners have compatible investing styles?
When searching for partners, ask about their current portfolio to get an idea of their investing style. If they are aggressive when you are conservative, you may run into trouble down the road when looking at investment opportunities.
Examine these factors in detail before forming joint venture partnerships you will ensure the maximum level of comfort when relinquishing part of the control in your business, and ensure you create quality, lasting joint ventures for the long run.
Subscribe to this comment's feed
