“How do you decide who to Joint Venture with?” – Does that seem like a silly question? Shouldn’t you Joint Venture with anyone who’s willing to give you money to buy a house, or anyone who says they are a working partner??
A Joint Venture Partnership should be set up like a business but with a relationship component.
Each partnership is unique to the people coming together, and to the opportunity that’s being discussed.
Here are 4 ways for you to Evaluate potential Partners with things to look for.
- Are they financially stable?
- Do their investment timelines match yours? 5yr, 10 yrs + etc.
- Do they understand investing and the potential risks?
- Do they see you as the expert and value your roll?
Things to look for in a Potential Working Expert Partners?
- Do they have experience in the areas that they are working?
- Do they have a coach or mentor?
- Do they have some financial stability incase of split cash-calls?
- Are they putting your return ahead of theirs? Or are they money hungry?