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this video is for those of you that are trying to do a deal with another real estate wholesaler so that way you guys can split the profits on the wholesale property hey what is going on i wronged em and cannot be with another video providing massive value and awesome content and fire content and whatever content you want to call it like always and so in today's video I'm gonna be talking about the JV agreement contract whatever you want to call it but I really want to cover this subject matter very effectively this is one of the like most optimistic aspects of the real estate business and what a lot of people are hoping is that they can make tens of thousands of dollars basically doing half of the work as far as wholesaling goes and yes that is 100% possible but what a lot of people don't understand is you actually have to have to put in the work in order to even add value to the relationship there's a lot of people basically like a blind man leading the blind man and both parties don't know what they're doing like they're both like oh yeah I'm gonna if you ever have a property on the contract I'll find you a buyer or whatever and or like let's try to JV together and do deals or what I get asked all the time which is a very annoying is hey Devin can you teach me how to wholesale and I'll split whatever profits that we make on the deal and I I don't think I'll ever do a deal like that unless they are somebody that's already like in one of my mentoring groups or something something like that where they've already got some skin in the game cuz if someone doesn't have any skin in the game whatsoever then it just it doesn't make any sense in order to have this 50/50 relationship we're not providing eighty percent of the work and basically they're out there just doing stuff you might as well just pay for a coach or a mentoring group or whatever you want to sign up for you might as well just do that if if you want someone else to help you out as they are gonna be providing everything it's especially obviously you don't want to hire somebody that's never done it deal before because I see that happening happening as well or they ask for advice from somebody that hasn't done a deal personally which I've made that mistake before I've ever made any money but once I once I kind of started hiring people that were actually providing value and that we're out there making millions of dollars that's when I started to see a little bit of success and so make sure that before you even do this before you even decide to jvu is somebody that you can actually bring value to the table and that means you have to actually just put in work essentially so if you want to put in work and this is for you and so now on top of this I there's obviously this contract doesn't mean anything unless someone has a deal on a contract and so if you are the person with the deal then do not sign this contract until the buyer side wholesaler has a buyer that they brought to the table and basically they bring that offer and from there that offer makes more sense than any other offer that you are getting and so you want to make sure that this set buyer already has an offer in place and maybe in writing of whatsoever like however it may be so that way you know that it's legit cuz if you just do a JV agreement then basically just give him 50% of equity of whatever assignment fee that you're gonna be making and you don't even know what this this person that's working with you is even gonna bring a buyer and so you want to make sure that they've heard the deeds already been done they've already bought brought the buyer you've already got the deal and then you can mix it up and and then you both make whatever profit on this property now obviously there's also the route of like two people getting started together and or two newbies and then they jump together that caters to a JV okay awesome and then they both work together on the project I I don't I don't know like what to think on that or give my opinion on it but I I wouldn't sign the JV agreement until someone has a someone has a deal on a contract and Tony has a buyer already set up that's that's the most important part so make sure that you guys are moving forward and the relationship makes sense and you both have value to provide each other and you can always change whatever that percentage is if someone's put in a little bit more work and they feel like they need to be paid a little bit more based off the relationship or whatever and just whatever makes sense essentially before before we jump into it like always I'd have the contracts down below it's gonna be the first link just click it and it'll send you the three so we've covered inside of my channel and that's basically the purchase agreement the assignment contract and the JV agreement so you will have all three of those available down below just click it and we'll get them over to you and then you can just watch all the videos and just go through each of them with those videos while you're filling them out so that way you know exactly what you're doing so without any further ado let's jump inside of my computer and show you guys this contract okay so here is the JV agreement it's that's that's literally it's super simple so there's not really all that much to it it's just a matter of basically making sure that everybody put a right providing value with each other's for this even makes sense basically what you do is you just fill out the property address so you just put one two through Main Street right right there whatever it may be and then what you're gonna do is I would just clear this part out and write down whatever the LLC name is I'm gonna leave it in there just so that way you know it goes there when you're looking at it so literally just put whatever the LLC name is delete this part pretty simple and then you're gonna delete this part and then put your name here so whatever it may be you just you put Joe Schmoe or whatever maybe and so and then you just put a date down right here and then from there you're just saying hey the seller wholesaler agrees to pay whatever like this is gonna be obviously the buyer side the the buyer side is sending this contract over so the seller whole seller you put down whatever your name is if you're the one bringing in the fire and then 50% of whoever the closing for finding the end buyer and that that is it if you really want you to make this a little bit more official you could just change this name right here seller will sale or to whoever the cell-like seller side of the relationship is just put it right there I don't this contract really is it's not that big of a deal but it's just as long as it's writing so then you just have the soda bull seller sign there print their name and then you put down your name sign it there and then put it put down the name and everything so really that that is it I hope you guys all enjoy today's video I don't know how can make it any more simpler than this as far as a JV agreement goes but make sure that you if you are the seller side that you have a deal in a contract and then if you're the buyer side you've already brought a buyer and you brought value to the table because then there's really no point of swapping there's no point of signing this addendum if if it doesn't really make sense so and then from here once you guys got the percentage is down and everything you can just send it off to the title company and they'll do the rest we'll fill it out like a HUD statement and then you guys can look it over at the Hut like what at the signing and then just making sure that all the numbers are going to the appropriate places and that's really it cuz everything's like there's nothing else really you have to do they just they handle it all so just just to understand that like it's super simple super easy but don't do this unless you are each providing value to each other so if you guys want these contracts I'm gonna link down the videos as well as the contracts down below check them out and then on top of that that is it so actually like currently when this video came out I'm actually probably gonna be in Utah going down and visiting my girlfriend's family and everything so anyways yeah just uploading these ahead of time hope you guys all enjoy the value and so if you guys want to see more videos like this related with wholesaling and making money with real estate or entrepreneurship as a whole John the family own the game when to subscribe button down below also hit the notification belt I'd appreciate it and so like always I am uploading to YouTube every day so I will see you all tomorrow peace [Music]