Create Wealth through Joint Ventures, Wealth Creation, Building Wealth, Wealth Planning, Wealth Semi

Wealth through Joint Ventures

If you are serious about your investing, at some stage you will need a joint venture partner.  If you think about it when you purchase a property (unless you pay cash) you are doing a joint venture with the banks.

The reason I say 'at some stage' is that when you are accumulating your assets you will either run out of -

Income, or

Equity.

When you run out of either it is no excuse to stop investing.

For example -

If you have good income (therefore good borrowing capacity) but no deposit or equity to use to invest you cannot purchase property right?

If you have great equity or a big cash deposit and have a number of properties but no ability to borrow, you cannot continue to grow your portfolio right?

WRONG ON BOTH ACCOUNTS.

If example 1 and example 2 get together and join forces what do you have?  50% ownership in a property each right?

RIGHT.

The biggest thing to remember with a joint venture of this type (the type above) is to have a document (a legal document) to make sure you have all your bases covered if the worst happens. 

For example - 

If party 1 gets into financial difficulty, does the other party have the right or the obligation to purchase the property?  If so who determines the purchase price. 

Or, if the property is sold, do you go to auction or is it a private sale etc.

It is very important to use joint ventures as part of your wealth creation plan, but you must do it properly.

If you need help or are thinking of getting one organised contact the 21st Century team for advice.

For more detail on the power of Joint Ventures, order the FREE DVD by clicking below

http://www.21stcenturyacademy.com.au/cmd.php?af=965302