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

Meet the Real Estate Investment Network (REIN) vii

Introduction viii

Workshop #1: The Potential of JV Money 1

Let's Get Started 3

What Do the Numbers Really Mean? 7

Get Real: Commit to Chasing Your Own Dream! 8

Commit to Systems, Win-Win Relationships and Follow-Th rough 11

Making the Leap to JV Deals 13

Acknowledge the Power of JV Money 16

Action Step: What Do You Want JV Money to Achieve for You? 17

Tutorial: What Is Your Personal Belize? 21

Insights from a Veteran Investor / Wade Graham 26

Workshop #2: Systems Make JV Success a Priority 29

Systems: Th e Foundation of Your Real Estate Investment Strategy 30

The Importance of Relationships 31

The Team Approach is the Only Approach 33

Follow-Th rough Means Taking Action 35

Don't Let Analysis Paralysis Hold You Back 36

Action Step: Review Your Real Estate Investment Team 38

Tutorial: Relationships, Systems and Fundamentals 40

Insights from a Veteran Investor / Mark Loeffler 45

Workshop #3: Learn the Principles of JV Wealth Attraction 49

Why Is It Possible to Attract Money to JV Deals? 49

Commit to the Th ree JV Pillars 52

The Principles of JV Wealth Attraction 54

Action Step: Resolve to Do the Extra 10 Per Cent 62

Tutorial: Practice the Principles 64

Insights from a Veteran Investor / Cindy Wennerstrom 73

Workshop #4: How to Find JV Investors 77

Be a Money Magnet 79

From Circle of Infl uence to JV Partner 81

Action Step: Approach Your Inner Circle Contacts as JV Investment Gold 85

Tutorial: Recognizing JV Investment Gold 88

Insights from a Veteran Investor / Derek Peever 92

Workshop #5: How to Generate JV Leads with Superior Marketing 97

Solid Oak Marketing Rules 98

Put the Solid Oak Marketing Rules to Work 101

How to Generate Level 1 Leads 105

Generating Leads from Level 2 and Level 3 Investors 107

Action Step: Seek Out Sophisticated JV Investor Insight 109

Tutorial: Market Your Business Better 114

Insights from a Veteran Investor / Jared Hope 124

Workshop #6: How to Choose the Right JV Partner 129

Narrow the JV Field 129

Filter Potential Partners 131

Identify Your Ideal JV Partner 140

How to Present a Deal to a Potential JV Partner 142

Action Step: From Filter to Follow-Th rough, Always Use a JV Worksheet 148

Tutorial: How to Write a Letter of Intent 154

Insights from a Veteran Investor / Joe Ragona 165

Insights from a Veteran Investor / Monte Dobson 169

Workshop #7: Secure Commitment—Move Your Deal from Talk to Action 173

The Background Check 174

What's Your Plan B? 178

When a Prospect Says No: Dealing with Rejection 180

Action Step: Real Estate Investment Is about Action 184

Tutorial: Study a Joint-Venture Agreement 186

Insights from a Veteran Investor / Jules & Ange McKenzie 196

Workshop #8: How to Structure JV Deals 199

Ownership Structure: Know Before You Buy 199

Five Canadian-Specific Ownership Structures 200

Action Step: If You Have a Question, Ask It 210

Tutorial: Review the Fundamentals of a JV Agreement 213

Insights from a Veteran Investor / Gary McGowan 219

Insights from a Veteran Investor / Ian Szabo 222

Workshop #9: Closing the Deal—How to Avoid Partner Pitfalls 225

Learn from the Mistakes of Others 226

A Proven System 227

20 Common Landmines to Avoid 229

Take Responsibility for Your Deals 249

Action Step: Walk in the Footsteps of Giants 249

Tutorial: The Top 5 Steps to Avoiding Landmines 251

Insights from a Veteran Investor / Michael Ponte 257

Workshop #10: Duplicating Success 261

The 7 Steps that Unlock the Vault of JV Secrets 261

Practice Makes Perfect 263

Built-in Flexibility 263

Get Your Deal Straight 264

Put Follow-up in Action 268

Make It Your Business to Know the Market 273

Action Step: Follow-up Communication Is Key 274

Tutorial: Taming the Paper Tiger and Using Accounting Strategies that Work 279

Insights from a Veteran Investor / Todd & Danielle Millar 289

Workshop Wrap-Up: Richard and Emma Look Ahead 293

Where to From Here? 293

Insights from a Veteran Investor / Jeff Gunther 296

Appendix

A: Property Goldmine Score Card 300

B: REIN Property Analyzer 302

C: Prospective JV Partners—Follow-Up Letter 304

D: Potential-for-Relationship Questionnaire 305

E: Expression of Interest Letter 310

F: Rental Properties Monthly Statement 312

G: Rental Properties Monthly Statement—YTD Summary 314

Index 316