Hi all, long first I am hoping to get some insights / experience for anyone who has structured or completed a private joint venture. I am based in Melbourne, VIC and know another couple who own a block of land (currently their PPOR) in the inner east. The proposal is I pay for the development/build of a duplex + cash payment to the land owner, with each party owning subdivided land and 1 duplex at the end of the process to be their PPOR. Financially this works for us (Estimate total cost is around 1.1m, we have 20% deposit, with the final property value being approx. 1.4m) and I will be speaking to a lawyer/accountant but hoping to also hear some real world experience, thanks!
