If a friend was willing to invest in a property deal with you, and was willing to put up,say, $30k- what creative deal would you come up with for a win-win profit deal?
HappyHomes | HappyHomes
Email MeFriends and money don’t mix, thats my opinion.
If you must go down this road I’d make sure you see a Solicitor and have a Joint Venture agreement drawn up which covers the following points;
Purpose
Role of each party
Capital contributions
Share of ownership
Management
Duration
Exit strategy and dispute resolutionAmanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”well said amanda
I agree Amanda, I once heard a saying I can’t remember who it was who said it though but here it is:
“Before you Lend Money to a Friend, decide which you need the most – The Money or the Friend”
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Hi impatient
Ditto Amanda. But, it’s not impossible; the question is – are you both on the same page when it comes to common goal and strategies to achieve it. Having a team of expert along your side would be advantageous too.
CT
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