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Feedback required on a JV Flip

Discussion in 'Innovative Techniques' started by Rockstar, 6th Oct, 2015.

  1. Rockstar

    Rockstar Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    127
    Location:
    NSW
    Hi Folks,

    I have just unconditionally secured a vacant lot significantly under market price which settles on Oct 20. My friend is supplying all of the capital. This happened so quickly (long story) that we did not have time to think through the JV agreement.
    We wish to put the land back on the market immediately and sell it prior to Xmas. Net profits will be shared equally.
    Since the land is in my name but he is the finance provider how is it best set up to achieve this so that we are both protected and we minimise our tax burden?
    Is a mortgage essential or would a JV agreement with a caveat suffice?
    Interested in your thoughts.
    RS