Hi Enuff.

Good to hear that you are having some success in finfing such good deals.
A question though. Why joint venture on a 83K property?

If it is a good deal, I am sure you want it for yourself.
If you are in such a tight position that you can’t even raise 83K for a +ve property, it sounds as if you might need to build up some savings/equity first. (Walk before you run)

Secondly, JVenturing with people you don’t know without a very clear formal arrangmeent for how to run things, is asking for trouble.
I.e. what happens when you suddenly want to do some reno in order to appreciate, and the partner refuses. What if for some reason the property depreciates and you want out of the deal etc.

Remember, it is easy to partner when things are going well, but if they don’t…
(Sadly, same thing can happen when you deal with family members and close friends.)

Now, if you definetly want to go ahead and JV, why not talk a bit more about the motivation for potential partners and how you wish to arrange the deals?

Good luck, and let us know how you did.

cheers
Mika

Isn’t this how herd mentality works.
Prices are booming and everyone wants in.
What about the fundamentals. What does Cairns have supporting the increasing prices?
i.e. is tourism dramatically increasing? other industries moving there????

Don’t want to sound negative, but why does everyone suddenly think nth QLD is a good place to buy?

I would also be keen to hear from people who have done wrap business or lease options up there.
Any success????

…Mika