- EtceteraMember@etceteraJoin Date: 2004Post Count: 24
Does anyone here use equity partners? We had to sell several of our IPs to fund a treatment for a major medical illness, & then sold some more to get in to our current business (believe it or not we were refused finance on the basis that we had too many assets to fit nicely onto their application!). Complicated situation, but the financier stalled for so long, after giving us assurances of approval, that we were classed as self-employed with no history when we applied through another financier.
We still have some of our properties, but we don’t have a lot of available equity in them.
Anyway, I was just wondering how other people have gone about finding an equity partner. We have heaps of experience & I have enough time available that we think this might we the way to go. I have the (good) problem that I can see so many deals out there, but we don’t have the resources to capitalise on them.
Our accountant doesn’t want to investigate the equity finance option with his clients. Apparently he’s been burnt before & is understandably not keen to repeat the situation.
Do you have any particular suggestions of things to look for, places to enquire, or things to avoid? Or other creative ways to get around this situation? We’ve investigated vendor 2nd mortgage, but people seem to run when they find out we’re self-employed. [thumbsdownanim
Any advice you have would be great!
E.RikkyMember@rikkyJoin Date: 2005Post Count: 313grant7Member@grant7Join Date: 2006Post Count: 59
Im often looking for equity partners to, so Im curious what do you look for in a deal before u would put your money in? And what security would you require over your money? Are u just looking for a %return (paid monthly/yearly) or would you only go in if you were a partner on the title of the property being purchased.
GrantRikkyMember@rikkyJoin Date: 2005Post Count: 313
My main factors are I want my money in for minimum time, no more than 12 months, risk verses reward and only do deals that are in my name with a legal agreement signed between us stating how much % return we get each.
I dont do monthly returns to risky unless its surcured some how .
We buy properties cash fast settlements no fees no fuss. contact me on 0408 355568