joint venture

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New podcaster sets up joint venture deals.

Welcome, friends.

Welcome to Side Hustle School.

My name is Chris Guillebeau, your host in this week's first $1,000 segment.

We're going to hear from a new podcaster with a business model of setting up JV deals.

What does that mean, JV, joint venture deals? How does it work? How much money does he actually make? Well, he does make at least $1,000 because that's the whole point of this segment.

How does somebody get an idea, take the action steps to make $1,000 or more, and they often go on to earn much more in fact.

How do you currently acquire customers?

Um, JV partnerships and referrals.

Oh, interesting.

So what are the JV partnerships?

So I'll typically do a launch and then have affiliates for like during my launch, and that will bring in new, new people-

Okay

I'll give you just one more and then I'll pull up for anything I do want to elaborate on or something to go into.

So for business partnerships for so many years, I was like, oh man, Aaron's talking about like joint ventures and like, I don't get it.

Like, I can't get anything on this.

Like no one's like, is it because I have a weird gay unicorn gym? People don't want the gay unicorn gym.

So just, uh, and I know sometimes they call even worse than affiliates, personally, and I feel bad 'cause I have friends in the space that actually, like, have programs called this, is JV.

Like, you know what I mean? Like, even JV, it's like, it's just, they can't even say it, J- Joint Venture.

It's like, just call it a partnership.

Anyways, this is a little side tangent.

You said no money down.

How am I gonna fund the renovation?" And this is where you use a seller JV, and you could borrow the renovation amount through a money partner.

Now, once the property settles, the funds are distributed under the JV agreement, and you could write this up in multiple ways.

Now, what's crucial to a seller joint venture is the joint venture agreement itself because it needs to clearly articulate each person's rights, each person's obligations, and who manages the project, and how the profits are shared, and if there are any problems, how are the disputes handled.

Now, you might say to me, "Adel, why would a homeowner agree to do a seller JV," or, "Where do I even find a seller JV," or, "Why would they even do that?" You have to remember, most of the time you are helping someone.

You are trying to create a win-win situation.

For example, it may be someone who cannot afford the renovation themselves, or it may be someone who doesn't want to manage the renovation, but they want to maximize the sale price.

It's their nest egg, and it's the only thing that they might have to retire comfortably.

It's so true.

is that when we're talking about vendors or planners and DMC specifically and joint ventures or strategic partnerships, these are one to many opportunities.

So this is maximum leverage.

It's a little bit more difficult.

In order to do that, we've got past clients, present clients, future clients.

And I'm going to say more than five because the pockets overlap some of the things, but you've got vendor partners, other things that you do, planners and DMCs.

and strategic partnerships and joint ventures.

So today we're going to be talking about the things that aren't related to your customers specifically past.

So when me and that person parted ways, people had already listened to my calls from their Novation mastermind.

So I kind of had some built-in JV partners that started feeding me leads.

Then I started going live on Instagram and showing my calls and getting more people to send me leads.

And I built a team.

Now I have 12 people on my team that are closers where we close deals for wholesalers all across the country.

We've got the biggest JV program where people send us leads.

We lock up the properties.

We put them on the market.