Hi all
Is anyone out there interested in joining forces to invest in positive cash flow properties? I currently have my sister investigating in Cairns for immediate +ve cashflow properties and am limited as to how much I can borrow. For example, there is one property that is being sold for $83k and is being rented at $140p/w in a good suburb that has also shown good capital growth.
If you are interested email me at *********** (richmond here, you can’t advertise this kind of thing on the forum… sorry)
Cheers
EnuffIsEnuff
“Positive cashflow properties, no more 9 to 5, more time for self and family … enough is enough” [
]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
MikaHi Mika
I hear you about the 83K example and the pitfalls that may arise out of JV’ing with people that I do not know. The sort of deals that I want JV partners for are for example buying small blocks of units, (eg. 5 to 12 units). I can afford the 83K purchase and plan on doing this. Still, if I can afford 10% and a JV partner can afford 90% I would rather have 10% of something than 100% of nothing.
JV’ing with someone would of course be on the proviso that we get along and are of the same mindset. Also, it would all be formal and done through solicitors, (ie. on a JV contract).
I am waiting for the deals to be investigated properly so that I now exactly what the movitation for potential JV partners may be. I do not want to say without having some hard facts.
Cheers
EnuffIsEnuff
Save up build equity b4 you buy another house. hmmm if you want to buy 1 house a year go for it. If you want to buy 50-100 a year you will have to start thinking outside of the square. I do JV’s but I have 100% of the pie. As I said think outside the square.
Hi Insider
I agree with you 100%. My goal is to buy at least 25 properties in 1 year.
Mmmm, how is it that you have 100% of the pie???? This sounds very interesting and if you are willing to reveal your methods then I would like to hear more.
Cheers
EnuffIsEnuff
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