JV Partner for Rent to Own Property

[PartnerWithAPro]

Hey everyone,

I currently have 5 rent to own properties right now, and I want to expand my portfolio (as well as someone elses) to the next level. I posted a rent to own thread in the Landlords section if you want more information.

One big problem! I can't get another mortgage. I have 2-3 deals coming up with Tenant-buyers who have a down payment and I will be finding them a property in a good neighbourhood. Cash flow is approx $350 - $500 (even with 5% down).

The down payments I have on the table are going to be $10,000 - $15,000 (little investment needed)

I will post the deals when I collect the deposit, but I am looking for a JV Partner otherwise I will be selling these deals to the brokerage which has an access of investors.

[LandlordD]

I'm always looking for ways to make money. The devil is in the details!

[PartnerWithAPro]

Sounds good.

Should have details within the upcoming week or two.

I will post in here, but if you want to leave your email address that would be good too.

[PartnerWithAPro]

House has not been found yet, the clients will be going out to see houses over the next 2 weeks and when numbers are in I will share them.

Property will be near Whitby and close to highway for easy access for the tenant buyers. I actually own another rent to own in Whitby and even though I live an hour away I have only been to house 2-3 times since early last year. (Rent to own is pretty much autopilot).

Here is the details in the meantime...

$10,000 down (I collected $1,000 deposit already)
$2000 - $2300 rent price negotiated
Buyout prices 1, 2 and 3 will be in increments of 5% / 4% / 4% per year off of purchase price.
House price will be around $300,000

Tenants buyers make $100,000 a year. One is an accountant and the other owns their own business. They plan on doing a Rent to Own for 2 years and buying out. The tenants will be responsible for first $300 of repairs every calender month.

We have all the contacts of professionals to ensure this process is easy and painless as possible. Home inspectors, lawyers, real estate agents etc. The way we do rent to owns is pretty cookie cutter at this point.

If anyone is interested, leave a message since when the house is found we will only have 24 hours to lock up an investor. I will do this as a JV or I will sell the deal to someone. A colleague of mine has already displayed interest but I wanted to post here as well.