Please post about your joint-venture experiences

[nmb]

I am looking at a possible investment JV but am cautious at the moment.

The idea of creating a property investment joint-venture sounds great in principle but what is it like in practice? I would be interested to hear from anybody who has created a joint-venture with a previously unknown party. How did you find it? Did it work? Would you do it again?

 

[Tracey Woods HMO]

I believe that no JV with an 'unknown party' is the right way. In my experience of JVs, even when meeting someone new, JVs happen when you really do know them and what they want from the JV. I was once taught to always ask first what they want, never go with a solution to fit what you believe they want - don't expect a JV to happen over night either. JVs are fantastic ways to ramp up your journey as we all need help in some form at some time, whether that be expertise, money or just support.

 

[leofus1985]

I think this is what I’m looking for


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[kchiggs]

Keep looking for JVs either for my ideas or for me to help liquidity partner.

All I find is a lot of fakers, they are not prepared to show the money or the properties where theu jave expirences. It later transpires they don't actually have any money/expirence just chains of agents and wannabes.

 

[nmb]

Maybe there should be a specific section for forum members looking to put together joint venture partnerships? In order to keep the quality of applicants high perhaps a private, members only sector might be useful?

 

[kchiggs]

Maybe there should be a specific section for forum members looking to put together joint venture partnerships? In order to keep the quality of applicants high perhaps a private, members only sector might be useful?

I think to keep the quality high you need some kind of vetting, not just private members. That won't stop fakers and wannabes. Plus ideally you want those who haven't got anything to be able to join(let time rich and cash rich partners meet)as long as you can identify who's who easily. Otherwise you just degenerate like Facebook groups. Anyone can say yes to do you have the money but not everyone can put it in escrow.

Perhaps certified members who are required to show proof of funds or land reg ownership documents.

 

[nmb]

Some very interesting ideas there - tricky vetting those who have time and effort to offer, the funding and escrow part I get as well as the whole concept.

 

[kchiggs]

Regarding vetting time and effort that's easy go by number and quality of posts. I know your willing to spend time and effort nmb because you have sent 992 messages.

Trouble is convincing the liquidity side to prove it that's where the fakers come in. A whole meetup side is useless withoug them and just quickly degenerates. How did you find your jv partner nmb?

 

[Longterminvestor]

I have not found a partner and might put the project on the backburner for a few months. However I have decided to go with recommendations for the moment, from people I know and trust. There is no fool proof way but if they are good enough to deal with my savvy investment friends then that goes a long way towards me trusting them. However, there also has to be some chemistry, you need to be able to get on with your JV partners.

 

[kchiggs]

Thanks long term investor unfortunately that requires knowing someone. For those of us without the networks this is not viable.