Hi there everyone, this is my first post so a big hey to everyone!
I've done a few deals in the past, from buy, reno, sell to the odd small sub-division. I'm fairly happy with how I've done in terms of property development, but am finding I may need some help in jumping to the next profit bracket. With cashflow being an ever present problem I'm looking to do so with some kind of joint venture or money partnering setup. I've missed out on plenty of deals in the past because of money shortages, and am looking to put a stop to it!
Now I've had a good old look through the forum at related posts and have got some good points, but I still have a few questions. I've obviously got a few contacts in the related fields but am having trouble finding people to commit to something. Any one know that feeling? Seeing as my network is yielding low opportunities for a jv setup I was wondering if anyone knows of good methods to find potential partners? Websites? Newspapers? Forums? etc
Anyone been in this situation? Did you find partners? How so?
Thanks so much and I'm looking forward to becoming part of the community…
Cheers,
Mark
What your looking for is joint syndicate funding-Where a group of ppl pool their funds together for a set project.
However in joint syndicate the contribution of money is even… meaning one can not pay more or less…so if your lacking money i say look into standard property investing and take the “slow route” ie 95% LVR loans…
Min investment for joint syndicate = $50,000
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Mark,
Word of mouth is the best way to get people involved. Why dont you go back to your other investors and see if they have friends/family whom want to do something like what you are saying. From my experience it all comes down to the return $$$.
Ojay
Joint Ventures are an excellent strategy to fast track your returns in property but they are also fraught with danger. I have been involved in a number JV's for over 10 years now and have done very well for both my partners and myself. There must be a level of trust established before going down this path and you must look into the legal aspects also. Formal JV agreements and understanding upfront of everyone's responsibility and risks save problems down the track.
I have done deals with Family and friends after they watched my success over the years.
You must also be very careful NOT to fall foul of the authorities regarding licences that may be required and the limits set by ASIC and the managed investments Act.
Make sure you do your research is it has bought people undone in the past.
If you have the runs on the board as you say – your accountant and solicitor are a great place to start
Hi Mark,
Apart from putting it out to your personal network and beyond (Facebook?) I think websites, forums and maybe ads in property specific media (i.e. YIP mag or API or domain etc) might be your best bet. However I suspect that print advertising would be a very expensive and possibly fruitless exercise.
Personal networks and recommendations are always the best option I feel. You need a fair degree of trust to make a joint venture work and trust is hard to manufacture amongst strangers.
The other option you might want to consider is project marketers. Some of these companies have networks of clients from accountants and financial planners that you might be able to “shop” a potential project to…
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