JV means Joint Venture.
A Joint Venture deal is basically another way for saying “1 Time Partnership” or “1 Deal Partnership” specific to a transaction or property or group of properties.
Not a business like an LLC, but 2 separate individuals or entities coming together to consummate a successful deal or transaction.
On Today’s 5 Min Friday we cover the Points of Success to a Working a JV Deal…
- Do YOUR Homework in Advance (Markets/Comps/ARVs)
- Know Your S%&* or Know Someone Who Does
- Utilize Existing Relationships to Create Success (External Business Partners i.e. Brokers, Lenders, Appraisers, Inspectors
- Don’t Re-invent the Wheel-Use Bread and Butter, keep the Jelly to the side
- Make Sure the Numbers Work!
- Fill the Void Your JV Partner Needs
That’s it.. Listen to ALL our episodes for Super tidbits like this on achieving real estate investing success in ANY Market!