Joint Venture Agreement?
Hi Folks,
Does anyone have a good JV agreement that they use when they do a deal with another investor? I have an investor who brought me a deal, and wants to work it with me, witha 60/40 split of the profits. Can someone point me at a good JV agreement/contract/
Thanks,
Alex Pakter-Nagle
[addsig]
I've been using the one out of "Flipping Properties" by Donchick / Dahlstrom pg.199-200 (with a few minor tweaks) for my last 2 deals and nobody had objected to it. I've been doing 50/50 splits. I find the properties, manage / do the rehab and market it while the partner buys the house and puts up all the money for rehab. Only objection / addition on the 3rd / present deal concerns completion of the project if I (the rehabber) bugged out on the project / got hit by a bus. I'm going to post a topic fishing for ideas on that one. The partner is covered somewhat already as he has the house in his name. I'm thinking something like "...relinquishing my share of the profits to pay for unfinished work if I am unable / unwilling to complete the project. "