Hi, does anyone have experience in joint venture development? i have a small inner city block of land. According to council up to 6 level building would be appropriate on the site.
Any advice would be appreciated.oc1Participant@oc1Join Date: 2012Post Count: 148
I have heaps but that's not the reason I am responding. While it can work well just make sure you get your legal side sorted, a couple of exit strategies agreed upon and have someone on YOUR side that knows the game inside out. A 6 story development in Brunswick is not a small development.
If you know all of this and have done a large JV development before ignore what i have said
OscarJosh AthertonMember@josh-athertonJoin Date: 2011Post Count: 269
Have you done any property investing development at all? Building or even being involved in a 6 story development is no small feat if you haven't.
To be involved in a JV, it would depend on the level of debt you have on the land. if it is owned outright (or nearly) you would be in a good position to enter into JV discussions. If your debt is high on the land than the only thing you are bringing to the JV table is a suitable site which must be financed.
A better overview of your position may help the forum to provide more tailored comments
brunswick Melbourne, looking for advice from others who have had experience in JV
Thanks Oscar and Josh, i've had limited experience in the building industry, and certainly nothing this large … so, not quite sure where to begin, hence putting out some feelers and asking for advice from those that know. Thanks again. Peter