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Getting Started with Joint Ventures

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InkStead | 10 Nov 2015, 05:40 PM Agree 0
I'm a new investor (working partner) looking to start from the ground up. Luckily for me, there's a great deal of learning, but not a lot of "re-learning" because I lack most of the preconceived myths about real estate and investing. I want to learn the smart way the first time around.

I'll also be a first time property buyer (ever) looking for a financial partner. Any tips or advice on how to get started with little to no experience?

I've tried my best to educate myself (it will be a continual process), building a strong and trust worthy network. Once I am able, I plan to join REIN as well as Keyspire. I'm actively putting together a portfolio as we speak, I have business cards ready to go. I enjoy talking about real estate investing and learning from others who do it. I've been "shadowing" others who currently do REIs, but I can't really claim their experience as my own. So how do I go about completing my portfolio without any "past properties" with stats and returns to show for it?

Most people (even working partners) have some capital wiggle room to play with. I don't. Any tips or advice for someone starting from scratch?
Thanks in advance!
  • | 12 Nov 2015, 03:00 PM Agree 0
    As a Realtor and investor I can appreciate your looking for qualified individuals to seek knowledge from. I have been in the business for 16 years and have owned and managed 44 apartments and rehabbed 5 houses . I then got into developing and recently in the past 2 1/2 years obtained my Real Estate license. I have always asked individuals that were active in arena that I was pursuing. If you want to learn how to fly an airplane , you don't go to the Airport bar . You watch a plane land and ask the Pilot that just landed the plane. I have worked hard over the past 16 years to gain the knowledge choosing to enter each stage with the worst properties to really learn what its like to turn it around. To help my clients with first hand knowledge. Another aspect of the knowledge that I have gained is that I only try to deal with sellers that have '' Skin in the Game" so to speak. I have found this to be true in the newer developments where you are protected by the property being new with great warranties and amenities. The builder has a lot at stake to make sure the properties stay in A condition.

    And are of great quality and return a good ROI . As far as exit strategy goes with the warranties being up to ten years , holding the property for a time sufficient to make a great ROI is very obtainable. Giving the owner the ability to sell the property with warranty available to the new owners. There several projects that I have access to that fit that criteria and also have large amounts of money that are committed to them with options to invest in them. Another plus is the area and the infrastructure witch happens to be in close proximity to Orlando Disney Area. Disney experienced 62 million visitors last year. Talk about supply and demand. I have worked with several builders that understand how to build good relationships with there customers . and understand in order to make the purchase work that it must be a "Win ..Win" for everyone involved. Last important item is that there must not be over saturation in the market. And the research to back that up, which is readily available. If you have any questions free to contact me 863-287-6704 or lnixon1029@aol.com
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