The Do's And Don'ts Of Property Joint Ventures
In this week’s show, Simon talks you through the best practices when it comes to property joint ventures, one of the most favoured ways of seeing property deals through. There are many benefits, but there are also some pitfalls, and in this episode, Simon lays out do’s and don'ts you need to watch for. KEY TAKEAWAYS A property joint venture is when two or more parties come together for mutual joint benefit. Typically, this happens when someone finds a property deal, but then must seek an investor to make it work. When you find a joint venture partner, ensure that you have visions, goals and values that align. You have to make sure that you can be in partnership for the long term. Make sure you set down your criteria at the beginning. Agreeing terms in case one of you wants to leave is essential to state at the outset. Consider whether JV (joint venture) is right. If you have the experience, and you can get a private loan, this can work out to be cheaper in the long run. BEST MOMENTS ‘Would you be happy if this person came to your home and dinner with you and your family?’ ’There’s always risk with any loan that you make’ ‘You need to think about the exit strategies you’ll use if either party wants to leave’ ‘I want you to realise just how much a JV is costing you' VALUABLE RESOURCES To access more free Creative Finance Strategies visit www.creativefinancetraining.co.uk Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). iphone: http://bit.ly/pinAPP1 Android https://bit.ly/pinAPP2 Register at Mindset For Property at - www.mindsetforproperty.co.uk ABOUT THE HOST Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals. CONTACT METHOD Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi