The Andrew Hines Real Estate Investing Podcast Joint Venture Real Estate Contracts with Lawyer Shawn Quigg
Mar 13, 2022
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Vet Partners Beyond Their Money
- Do pre-diligence on potential JV partners by learning their life, risk tolerance, and how they handle stress.
- Choose partners who can afford to lose the investment and stay calm when unexpected problems occur.
Plan Multiple Exit Strategies Up Front
- Define exit strategies before you close and build in at least two exit options in the JV agreement.
- Use renewal terms and maximum flexibility so partners can decide at each renewal whether to continue or exit.
Skip Boilerplate Contracts
- Avoid boilerplate JV templates; pay for a customized agreement that fits your specific deal and partners.
- Have a lawyer walk you through lifecycle questions and draft tailored provisions to prevent surprises.