Joint Venture
Hello,
Have you ever wanted to invest in property but for whatever reason haven't done so yet? Maybe you’re not sure of what to do or where to start?
Would you like to reduce your risk by leveraging off the experience of others? Then this may work for you…
Remember in the main page of 'Invest with WeBuyHouses' you may recall reading why 'WeBuyHouses' looks for Joint Venture Partners. Well, just to recap . . I never have enough houses in stock to meet the demands of our qualified applicants.
One of the ways I can solve this problem is with Joint Venture Partners like you. More properties can be purchased which in turn makes more homes available for others!
'WeBuyHouses' will then split the profits with you 50/50 . . . after allowing 5% for management fees and operating expenses . . .
Rick, How Does It Work?
- 'WeBuyHouses' will leverage its' years of experience and connections to locate a distressed property. When that property has been found, we will buy it at a discount and then make it available to one of our applicants at market price.
- As The Joint Venture Partner, you will provide the funds to acquire the property including applicable stamp duties and legal fees, etc.
- Together we will enter into a Joint Venture Agreement (click here to download) so that everything is on the level and we each know who is responsible for which part.
- The Legal title deed to the property will be in your name and it will be my job to make sure our house produces the agreed returns right through to final settlement. This is usually within 1 to 3 years.
- Management of the property will be undertaken by a third party but overseen by ‘WeBuyHouses’. We feel that the best method is to have all of the disbursement of funds done by a third party (that way as a Joint Venture Partner, you have has access to the records at any given time).
'We Buy Houses' does not receive any monies until all expenses have been paid . . . which includes all of your costs.
Sounds Good Rick . . . But Do You Really Need My Money?
Well, yes and no…. with your involvement as a Joint Venture Partner, I’m able to go out and purchase more of the houses that get offered to us at substantial discounts. All too often, opportunities arise at short notice and I have to act quickly if I want to secure these properties at discounted prices. Then I provide these houses (with finance attached) to our potential home owners.
Fortunately, we have bought hundreds of houses and therefore have a pretty good idea of what we are looking for, so if a house doesn't meet the proven formula, we forget about it and go onto the next one.
However, this way of purchasing houses can create a problem ....if you come on board as a Joint Venture Partner tomorrow, I can’t guarantee we’ll buy a house tomorrow…Remember, I need to buy at a discount of the market value so that the profit is already built in.
How Is My Investment To 'WeBuyHouses' Secured?
- As previously mentioned, the property will be purchased in your name and therefore, the title deed will also be in your name.
- Your interest in the property is fully outlined in our Joint Venture Agreement that you can download here for $45. The $45 is fully refundable when we enter our first joint venture.
- No other party will have any interest in the property. Only 'WeBuyHouses' and you.
Who Looks After Everything?
I am responsible for:
- Obtaining the property at the right price or on the right terms
- Vendor-financing it to a responsible and commercially viable buyer
- Overseeing the property transaction and making sure the whole process runs smoothly and profitably.
You are responsible for:
Ongoing operating expenses will be met by the property income; the net of which will be the property management company’s responsibility to disburse proceeds monthly to both parties.
How Do You Disburse The Sale Proceeds When The Property Is Sold?
The first thing that happens is that your invested capital is returned to you. The management company then receives its' 5% fee. Once all costs have been reimbursed, the surplus positive cash flow will be split 50/50 between 'WeBuyHouses' and yourself'.
Why Should I Joint Venture With 'WeBuyHouses'?
Well, I’m not too sure that you should, but here are some reasons why others have:
- By entering into a Joint Venture Agreement (download here) they can invest in the property market one step at a time with someone else on board for guidance…
- They feel more at ease being involved with the largest and most well known vendor-financing company …
- They know that with my experience (that took 15 years to learn) they gain 100% understanding but only take on 50% of the risk.
- They know that I will not allow our partners to incur any expenses in relation to the property that are not recovered prior to any profits being split. This is important as it means our partners incur no holding costs or mortgage payments without reimbursement… prior to profits being split.
- They’ve listened to, bought one, or been to one of our workshops and as a result recognise that what we do makes sense.
Joint venturing is simply another way to invest. Many people like to invest in multiple income streams such as the share market and property, etc. but it’s the lack of time that stops people from gaining the necessary knowledge.
When you become a Joint Venture Partner with 'WeBuyHouses' . . . you get access to that knowledge instantly.
This Is What I've Been Looking For . . . Count Me In
Ok, after you download the Joint Venture Agreement, you should determine how much money you have to invest and how much funding you think you would qualify for from your lender. If you need to, speak to a broker and get pre-qualified for borrowing purposes…
If you would like to talk more about joint ventures after you’ve read our agreement, please call me direct on (02) 9412 4622.
Otherwise download the Joint Venture Agreement Click here to download.
Warmly
Rick Otton
P.S. Call me on (02) 9412 4622 or click here now to download the Joint Venture Agreement. Remember . . . the Joint Venture Agreement is fully refundable when you experience your first joint venture with 'WeBuyHouses'.