What Makes A Great Joint Venture Partner Worth Your Time?

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

Who is Titanium Investments and What Have We Accomplished?

Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

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With over 2,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW!    https://www.youtube.com/@RJBatesIII

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Chapters

• 0:00 Partners vs Students Clarification
• 0:49 Deal Requirements and Transparency
• 2:29 JV Partner Responsibilities
• 5:27 Exclusivity and Setting Assignment Fees
• 8:52 Beyond Software: Human-to-Human Dispositions

Transcript

Speaker 1: 0:06

recently, I released a reel asking you guys what are some content topics that you would like to hear me talk about. One of the questions was what are some of the things that you're looking for in a good jv partner? Now, let's be clear I'm looking for a partner, I'm not looking for a student. That's the first thing. If you come to us and you say, hey, titania, I would like to JV with you, that does not mean that you get free education through doing a JV deal. What we are looking for, what we are looking for if you're asking us to dispo that deal one, you need to have a deal. I mean that a couple of different ways. First and foremost, it needs to be a good deal, something that we actually comp and underwrite and we agree. The numbers make it a good wholesale deal for the end buyer and also a good deal for us as the wholesaler. The other way I mean that is is don't come to us and say, hey, titanium, I spoke to someone and they said they have a house you want to sell. Do you want a jv? Aka? Teach me how to comment, underwritewrite this, call the seller, lock it up, do all the work and then let me make some money and also educate me along the way. That, to me, is not doing a JV deal. That would be us giving you free education and hopefully the deal ends up being profitable. I did. We're not going to do that. Hopefully the deal ends up being profitable Then. We're not going to do that. So the only way that we would JV with someone is if they already have successfully acquired that deal and they have a signed contract with the seller.

Speaker 1: 1:55

Now the next thing that I'm looking for is transparency. I want to make sure that you are willing to be transparent about everything that's going on inside of this deal, including sharing the signed contract and all documentation, making sure that we are not going to waste our time working on something that we don't even know exists, if it's a legitimate deal or not. We have to have that transparency as partners in this transaction. The other thing that we're looking for is clear and concise communication. Communication can kill a deal, but it can also make a deal. Make it to the finish line. If we are going to be working on your behalf to dispo a deal that you have under contract, we have to make sure that one yes, you're going to be transparent with us, but that you're also going to have an open line of communication so we can make sure that any questions that come along the way we're going to get an answer. There's many times when you're dispoing a deal, the end buyer will ask you a specific question about either the condition, the occupancy, maybe a lease with a tenant, all kinds of different things, and we might not have that information up front. We need to be able to get a hold of you to get that answer so we can get the deal assigned as quickly as possible. Now let's make the assumption that you have brought us a deal.

Speaker 1: 3:22

We did the analysis, we agree with the numbers, we feel like it's a win-win-win for everybody the seller, buyer and us as the wholesaler. You've been transparent, you've communicated well and we decide that, hey, this is something we want to take on. The other responsibilities that we feel you would have is pictures of the property and access. How do we get our buyers into the property so they can do their walkthrough? These are all vitally important in the dispositions process. One we have to have the pictures to do marketing and no, I don't want to take on the responsibility of getting pictures of property that you've done all of the communication with the seller and understanding what's going on with the property. We want to see those pictures up front. Quite frankly, we would want to see those pictures before we even do the analysis.

Speaker 1: 4:15

Access is vitally important as well. Majority of buyers are going to want to be able to access the property, do a walkthrough before they put an offer in on a wholesale deal. So we need to understand, as your dispo partner, how is that going to take place? Is that a lot box? Do we need to schedule with the owner? Do we need to schedule with the tenant, and what does that actually look like? The other thing that we need to know is how many times are we actually going to be able to access the property? Now, these are all things that we normally figure out during our acquisitions phase and recon phase, but since we're now going into a partnership, we are going to push that responsibility onto you as the acquisitions partner. Our side, we will do all the dispositions setting up the walkthroughs, as long as we have the ability to do that, and negotiating with the end buyers. We will also handle the transaction coordination. We want to take that out of the hands of the JV partner. Make sure that we have that done internally, so nothing falls through the cracks.

Speaker 1: 5:27

Now some of the last things that we're looking for in a good JV partnership is is exclusivity. If you are going to ask me to dispo a deal, I don't want you having two, three other wholesalers trying to dispo the exact same deal and wasting my team's time and bandwidth. We are going to utilize all of our energy resources that we can to get this deal moved as quickly and as efficiently as possible and for the right amount. So we don't want to take that time if we think that you're working with other people. So exclusivity is very important.

Speaker 1: 6:08

Another thing that's vitally important in a JV partnership is that we agree on what the assignment fee is going to be, and this is where a lot of newer wholesalers have a problem with JV partnerships. If you come to us and you ask us hey, I want to move this deal and I have it under contract for $100,000 and I want to sell it or assign it for $120,000, but we don't think that the numbers fit Like, hey, I don't think that we should try to move this for $120,000. I think the most we could get would be $110,000. And this is the reason why a lot of times what we've actually heard from potential JV partners is I only want to make $10,000. Well, it really has nothing to do with you and how much money you want to make. It really has to do with the end buyer. What is the end buyer actually staying to make and is it a good deal for them? Otherwise, we can't do our job as the dispositions partner. So we have to agree on what those numbers look like and why we are trying to assign the property for the price that is set. It really has nothing to do with you and how much money you want to walk away with Now at the end of the day. I understand it's important for you to make a certain amount of money, but you do that on the acquisitions, not on the dispositions. The numbers are what they are. We say it all the time. It's math, not magic. So you have to make sure that when you're acquiring the deal, you get it at a steep enough discount so then you can make the amount of money that you want to make as the wholesaler, as long as it's still a deal for the end buyer.

Speaker 1: 7:56

A couple of other things that come along during the analysis of JV deals. A lot of times, people that are newer and are asking the JV. They have a problem paying attention to the as-is comps and the listed properties. What is our competition when we go to wholesale this property? What I mean by that is if it's at a lower price point area and you're saying, hey, we should try to assign this deal for $30,000, but there's competition that's listed on the MLS at 20 and $25,000, our feedback's gonna be hey guys, we know that our end buyers are gonna look and say why would I buy your property when I could buy the exact same thing off the MLS for $20,000 or $25,000?.

Speaker 1: 8:47

This is all important when it comes to deciding that we're going to do a JV together. Now there are some people out there that have access to InvestorLift, dealspeed, investorbase and they say, hey, just send us your JV deals and we're going to sling it out there and see if we can get some offers. We don't do dispositions that way here at Titanium Investments. If you come to us and you say I would like the JV, we fully expect if we say yes to that deal, we are going to work that just like it's our own deal, and by work that I mean we're not just going to blast it out on InvestorLift and hope that a buyer comes to us. We are going to actively pursue in buyers, actively pursue in buyers. We are going to be working inside of God mode, cartel mode, utilizing Artemis mode to see who is actually viewing the property for how long.

Speaker 1: 9:51

No-transcript. If a JV partner is saying that they'll take on your deal and they're not following the exact same criteria that I just went through, I would say try carefully, make sure that this is a person that's actually going to be working your deal and not just trying to push out all of these JV deals in the masses to see if the dispo software will sell their deal. Because at the end of the day, some of the dispo software like InvestorLift and DealSpeed will sell their deal. Because at the end of the day, some of the dispo software like InvestorLift and DealSpeed will sell a deal. But the majority of deals actually have to be worked by a dispositions person. They have to do reach out. I get text messages all day, every day, for people trying to sell me deals from InvestorLift. I get emails. The majority of them are ignored and that's what the majority of end buyers are doing.

Speaker 1: 10:43

What makes your deal stand out from the masses. More often than not, it's that human-to-human relationship that reach out the conversation about why they should buy your deal over the competition. That's what we offer on the disposition side. So make sure that whoever you decide to JV with is doing the exact same thing and they're treating your deal with the care and concern that that motivated seller deserves and you, as the acquisitions JV partner, also deserves. Let me know if I missed something in the comments and also, guys, if you got an idea for some content that you want from me, drop it in the comment. I might just make a video, just like I did on this one. See you, guys, tomorrow.