With housing affordability at its current levels people are finding that the old way of saving a deposit to enter the market will no longer work for them. By the time you have saved that large deposit, house prices can again move up and out of your reach. The longer that you are out of the market, the longer it will be til you get rich. Joint Ventures, commonly referred to as JV’s are a great way to enter the market sooner, and purchase better quality properties than you might otherwise have been able to afford. A JV involves two or more people teaming up to purchase a property usually with the purpose of using a value adding strategy like renovating or developing it and then on selling the said property for profit. The best JV’s involve members who can bring different skills or strengths to the table, such as a cash rich, time poor person partnering up with a time rich, highly skilled person. JV’s are also an excellent way for parents to help their kids enter the market by using the end profits to enable them to purchase their very own property down the track. A vital key to achieving a successful joint venture is attitude, focus on abundance not lack, as the name of the game is to make enough profit to happily share around. After all, would you rather have half of something or none of nothing?
About RobRob is a successful property investor and fully licensed real estate agent who over the past decade has negotiated, purchased and used creative strategies to build his very own multi-million dollar property portfolio.
Rob's success story has been featured in Australian Property Investor magazine and he also writes for many real estate websites.
Whether you are a first time or seasoned investor or homebuyer Rob can assist you in your next Brisbane, Logan or Gold Coast real estate purchase.
Excellent article. When you add a wrap to the JV, the returns can be awesome.