Real Estate Joint Ventures: The Canadian Investor's Guide to Raising Money and Getting Deals Done

by Campbell, Don R.

• ISBN13: 9780470737521
• ISBN10: 0470737522
• Edition: 1st
• Format: Nonspecific Binding
• Copyright: 2012-01-01
• Publisher: Wiley

Summary

A step-by-step guide to attracting all the investment funds you will ever need for your next real estate transaction As the sales of Real Estate Investing in Canada have proven, Canadians are looking to real estate investing to build wealth. In his bestselling book Real Estate Investing in Canada , Don R. Campbell introduces the Authentic Canadian Real Estate (ACRE) system, the first system of its kind to show ordinary Canadians how to profit from investing in residential real estate. Told as a narrative, a typical Canadian couple named Richard and Emma successfully buy their first properties and now are ready to leverage their equity into more properties. In order to achieve their goals, they are introduced to a joint-venture specialist and, with his guidance, they learn how joint-venture partnerships work and secrets and strategies for acquiring new properties that only the pros know. Richard and Emma build their portfolio -- and their confidence -- and so they leave their jobs to focus on real estate investing full-time. Following a proven 7-step system, Richard and Emma are equipped with the information, strategies and motivation they need to go to the next level by explaining: What are joint-venture partnerships and how do they work to create win-win relationships Wealth attraction principles-how to become a money magnet How and where to find joint-venture partners-marketing and lead generation--and separate the wheat from the chaff Structuring a joint venture deal-building a team of experts and the due diligence process Legal structures and agreements, including tax implications 19 landmines to avoid in joint venture partnerships Following up with current joint venture partners and duplicating success The appendices offer valuable time-saving checklists, forms and worksheets, as well as advice on paper flow and time management.

Author Biography

Don R. Campbell is a Canadian-based real estate investor, author and consultant. He is the president of Canada's Real Estate Investment Network (REIN), which now has a membership of more than 2700, and this membership owns more than $2.7 billion of residential real estate in Canada. The first edition of REIiC has sold more than 34,000 copies. Don R. Campbell is a frequent guest on Canadian media to discuss trends in real estate and hosts workshops and seminars for REIN members across Canada.

Russell Westcott is general manager of REIN and a veteran real estate investor who specializes in joint-venture partnerships. He delivers seminars on joint-venture partnerships to REIN members in Vancouver, Edmonton, Calgary, and Toronto.

Table of Contents

Meet the Authors	p. vi
Meet the Real Estate Investment Network (REIN)	p. vii
Introduction	p. viii
The Potential of JV Money	p. 1
Let's Get Started	p. 3
What Do the Numbers Really Mean?	p. 7
Get Real: Commit to Chasing Your Own Dream!	p. 8
Commit to Systems, Win-Win Relationships and Follow-Through	p. 11
Making the Leap to JV Deals	p. 13
Acknowledge the Power of JV Money	p. 16
Action Step: What Do You "Want JV Money to Achieve for You?	p. 17
Tutorial: What Is Your Personal Belize?	p. 21
Insights from a Veteran Investor	p. 26
Systems Make JV Success a Priority	p. 29
Systems: The Foundation of Your Real Estate Investment Strategy	p. 30
The Importance of Relationships	p. 31
The Team Approach is the Only Approach	p. 33
Follow-Through Means Taking Action	p. 35
Don't Let Analysis Paralysis Hold You Back	p. 36
Action Step: Review Your Real Estate Investment Team	p. 38
Tutorial: Relationships, Systems and Fundamentals	p. 40
Insights from a Veteran Investor	p. 45
Learn the Principles of JV Wealth Attraction	p. 49
Why Is It Possible to Attract Money to JV Deals?	p. 49
Commit to the Three JV Pillars	p. 52
The Principles of JV Wealth Attraction	p. 54
Action Step: Resolve to Do the Extra 10 Per Cent	p. 62
Tutorial: Practice the Principles	p. 64
Insights from a Veteran Investor	p. 73
How to Find JV Investors	p. 77
Be a Money Magnet	p. 79
From Circle of Influence to JV Partner	p. 81
Action Step: Approach Your Inner Circle Contacts as JV Investment Gold	p. 85
Tutorial: Recognizing JV Investment Gold	p. 88
Insights from a Veteran Investor	p. 92
How to Generate JV Leads with Superior Marketing	p. 97
Solid Oak Marketing Rules	p. 98
Put the Solid Oak Marketing Rules to Work	p. 101
How to Generate Level 1 Leads	p. 105
Generating Leads from Level 2 and Level 3 Investors	p. 107
Action Step: Seek Out Sophisticated JV Investor Insight	p. 109
Tutorial: Market Your Business Better	p. 114
Insights from a Veteran Investor	p. 124
How to Choose the Right JV Partner	p. 129
Narrow the JV Field	p. 129
Filter Potential Partners	p. 131
Identify Your Ideal JV Partner	p. 140
How to Present a Deal to a Potential JV Partner	p. 142
Action Step: From Filter to Follow-Through, Always Use a JV Worksheet	p. 148
Tutorial: How to Write a Letter of Intent	p. 154
Insights from a Veteran Investor	p. 165
Insights from a Veteran Investor	p. 169
Secure CommitmentùMove Your Deal from Talk to Action	p. 173
The Background Check	p. 174
What's Your Plan B?	p. 178
When a Prospect Says No: Dealing with Rejection	p. 180
Action Step: Real Estate Investment Is about Action	p. 184
Tutorial: Study a Joint-Venture Agreement	p. 186
Insights from a Veteran Investor	p. 196
How to Structure JV Deals	p. 199
Ownership Structure: Know Before You Buy	p. 199
Five Canadian-Specific Ownership Structures	p. 200
Action Step: If You Have a Question, Ask It	p. 210
Tutorial: Review the Fundamentals of a JV Agreement	p. 213
Insights from a Veteran Investor	p. 219
Insights from a Veteran Investor	p. 222
Closing the DealùHow to Avoid Partner Pitfalls	p. 225
Learn from the Mistakes of Others	p. 226
A Proven System	p. 227
20 Common Landmines to Avoid	p. 229
Take Responsibility for Your Deals	p. 249
Action Step: Walk in the Footsteps of Giants	p. 249
Tutorial: The Top 5 Steps to Avoiding Landmines	p. 251
Insights from a Veteran Investor	p. 257
Duplicating Success	p. 261
The 7 Steps that Unlock the Vault of JV Secrets	p. 261
Practice Makes Perfect	p. 263
Built-in Flexibility	p. 263
Get Your Deal Straight	p. 264
Put Follow-up in Action	p. 268
Make It Your Business to Know the Market	p. 273
Action Step: Follow-up Communication Is Key	p. 274
Tutorial: Taming the Paper Tiger and Using Accounting Strategies that Work	p. 279
Insights from a Veteran Investor	p. 289
Workshop Wrap-Up: Richard and Emma Look Ahead	p. 293
Where to From Here?	p. 293
Insights from a Veteran Investor	p. 296
Appendix
Property Goldmine Score Card	p. 300
REIN Property Analyzer	p. 302
Prospective JV PartnersùFollow-Up Letter	p. 304
Potential-for-Relationship Questionnaire	p. 305
Expression of Interest Letter	p. 310
Rental Properties Monthly Statement	p. 312
Rental Properties Monthly StatementùYTD Summary	p. 314
Index	p. 316
Table of Contents provided by Ingram. All Rights Reserved.