Private Money Partnering

Private Money Partnering Table of Contents
Find Out All You Need To Know About Private Money
Partnering And Joint Venture Real Estate Investing.

Finding Private Money Partners
How To Find Private Money Partners for Real Estate Venture Capital Using The Web And Other Resources

Testimonials About Private Money Partnering
Find Out What Investors Have To Say About The Information On The Private Money Partner Site.

Private Money Real Estate Venture Capital Glossary
Coming Soon. Terminology for Private Money Partnering And Real Estate Joint Ventures.

Private Money Joint Venture Real Estate Blog
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Private Money Partner Meetup Forum
Private Money Investors & proposers Can meet and find mutually beneficial partners.

Private Money Partnering Home Page
Introduction To How We Can Help You Find The Private Money That You Need.

When A Joint Venture Goes Wrong

Chapter Q

What Can Go Wrong?
What Can You Do When Things Go Wrong?

WILL: Oh, I tell you, Bob. If you knew what was going on right now. My heart is beating, I'm having trouble collecting my thoughts. We were almost finished. and we did the last draw and I was feeling good. I know this has nothing to do with what your part of the job is and when you approached me with the partnership you said, " I want you to be the person with the money and I'll be
the person with the time.' Because that's what I stated at the beginning. I said I really don't have time for this extra duty, so I really felt that the two of us together would be a wonderful partnership to bring this about and make some money. It looks like right now we're going to be dipping into the profits. And I never
really told you where I got my money from. I guess I got lucky, you could say I got lucky, I married well. But, she really never lets me live that down, but that's my life, not yours. So, you're giving me this news on Friday and I'm going to have to talk to my wife. I'm not going to tell her all of this right at the beginning.

BOB: Oh, Mary

WILL: Right. So, I'm going to have to work on her, butter her up or whatever you want to call that.

BOB: Well, does she realize you've been involved in a project like this. Will?

WILL: Well not entirely, not entirely, I pretty much just could work with one of the checking accounts and that's what I've been playing with for the money so ...

BOB: Because we've put $7,000 into this so far.

WILL: I know. And I really thought that was going to be enough, so I'm going to have to go back to her for this extra money, and in the back of my mind it's not going to be real pretty. And, but $3,000, in other words, I try to look at what's the complete worst case scenario? Will $3,000 get us back up to even, or will we do this and I'll need more?

BOB: Well, $3.000 is really the outside figure to get the house back to move in, marketable condition. We might be able to do it for $2,600. I always like to project expenses high and profits conservatively.

WILL: OK, and two other questions. Once it's finished, how long will it be before we can find someone to lease-purchase or, out and out sell it? To me that's our ultimate goal, to get it sold, actually change title.

BOB: Well of course, we're in a saleable neighborhood. That was one of our first criteria. You've seen the job we've done on the house. It's just probably the best looking house in that neighborhood so I anticipate no delay. But of course, when we market we'll advertise lease-purchase and pull in a lot of gray area people, some of which we'll find will be very workable.

WILL: Very good. The reason I was trying to find out the time frame is because once I tell my wife what the situation is, and I do get this money, I will be in the doghouse until the house is sold. So I'm trying to look at my personal situation.

BOB: Right, I understand. Well, I will do my utmost to keep your stay in the doghouse of brief duration, Will.

WILL: Thank you. I'll do my best this weekend and I will call you Monday with the news.

BOB: I'm counting on you, Will.

WILL: Thank you.

Joint Venture Going Wrong - Chapter Q (continued)