i have purshased a property in New Zealand with another persone and we r going to set up a joint venture together but i am unsure of what should be included when we go to the solicitor to draw it up…[confused2]
here r some details on what i have done….and go easy on me this is my first investment lol
i put up 100k from equity..the other party done most of the leg work as they are from new Zealand and know the areas…property was 480k.. bought it for 420k bank required 20%deposit …it is rented out at 680per week with 4 years on the lease still to go…there r 3 homes on the land and i can subdivide them into 2 blocks if i wish…..
I wish to keep the properties and refinance in about another 10 months so i can gain more equity from them to put it towards another property or 2..me and my other investor are both new to investing ..and are unsure how to proceed with who pays what …at the moment the rent pays for the loan that was taken out in NZ…which by the way was really easy to obtain..and my other investor is paying the interest on the 100k from my equity…mmmmm not sure what i should be asking for and what she will be asking for … we did agree on a 50/50 split but do we take out costs etc …hope someone can help
Thanks for listening …i mean reading
DarrenPROMPT PERSONEL AND EFFICIANT
Hi Darren
i do joint ventures with partners in the States (i live in NZ)if you want to see a sample of our JV agreement email me at the address below. Like you i put up the cash and they do the work.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
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