Posted by marla on April 22, 1999 at 15:24:38:
> What benefit is there to joint venturing with a GC? Seems to me it would be cheaper to hire him.
You know, I’d been mentally testing out possible scenerios of joint venturing with a GC and had pretty much come to the same conclusion. However, I’ve seen references in other posts to “partnering” with a rehabber/GC, so when I found a GC looking for an investor to partner with, I thought it worth looking into. In my local market, retail flipping is one of the few remaining ways I see for me to profit in REI.
I don’t feel confident about my abilities to judge fix-up costs; nor do I have the physical capability to do the fix-ups, myself. I was thinking that by joint-venturing with the GC for a few projects, I could shorten the learning curve for judging rehabs and working with contractors and I’d be working with a contractor that had a vested interest in the outcome of the project.
Thanks for getting me off that track, Jim. I see where fear was clouding my thinking and I’m back to respecting my own instincts about joint venturing with a GC vs just hiring one.
Marla (Santa Clara, CA)