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HMO Joint venture.
abbiebeamish posted a topic in General property discussionHi, I'm currently in the process of setting up up my rent2rent business, specifically HMO management. I have recently come across a few deals in manchester. All are 6 bedroom 3 story properties. After doing the dudilligance, I calculated that they all generate a cash flow of atleast £3000 and a profit of no less than £600. Unfortunately I do not have significant funds to pay for the set up costs. As a result am looking for a joint venture partner. Please get in touch if you are interested
Hello everyone, I'm just getting started on my property adventure and I need a bit of advice regarding joint ventures. I have time to work; find motivated sellers and identify good investment opportunities and deals, however I don't have any funds for deposits (a story I'm sure you've all heard many times before). I am saving however it will be at least 18 - 24 months before I can consider putting up a deposit of my own for a BTL mortgage. I can look to borrow a deposit from family, and I may still do this, however I like the idea of a joint venture with a property investor with some experience that I can learn from as well as to use their money as seed capital. Therefore my current plan is to continue to learn as much as I can and continue to network at property investors meetings in my local area and in London with the aim of building up a strong network of contacts. I will then search for and identify good investment opportunities and share them with some of the experienced contacts I have made through networking, offering them the opportunity as a joint venture with myself. I am very aware that as part of a joint venture I must bring something to the table, and as I don't have the cash for a deposit, I will bring the investment opportunity and my own hard work. The question I have is this: Is this an attractive scenario for an experienced property investor? Will anyone be interested in working with me if I provide the investment opportunity and expect them to provide the capital and some advice, assuming the deal generates good returns for the both of us? Or will I struggle to find anybody interested in working with me because of my lack of capital and lack of experience despite me having identified a good opportunity? Thanks for the advice, Steve