🤝 Before You Partner, Ask These Questions!

How to Qualify a JV Partner

In real estate, we often hear about people partnering on deals, businesses, and investments. But what we don’t always hear about is how to vet a potential partner before jumping in.

I firmly believe that the best way to prevent a bad partnership (and avoid expensive mistakes) is to ask the hard questions upfront. Having clear expectations before signing any agreements can save you from serious headaches down the road.

Over the years, I’ve heard plenty of partnership horror stories behind closed doors—many of them from experienced investors who thought they had found the perfect fit.

That’s why I turned to the Elite Level Mastermind members to find out: What do they look for in a strong JV partnership? Here’s what we came up with.

Questions to Ask Yourself Before Partnering

Before you even consider working with someone, take a step back and evaluate who they are as a person and investor.

✅ Do they attract peace or chaos?
✅ What does their personal life look like? (Because business and personal life always overlap.)
✅ What is their reputation in the community?
🔹 Reputation > “Experience” – A great track record means nothing if they have a shady reputation.
✅ Are they constantly bragging and pounding their chest about how great they are?
🔹 Humble > Ego – Confidence is great, but extreme ego is a red flag.
✅ Are they emotionally stable and able to set aside personal feelings when making business decisions?
✅ How well do they communicate?
✅ Do they have financial reserves, or are they relying 100% on the deal working out?
✅ Do their strengths and weaknesses complement yours?
✅ Do they have a long-term outlook, or are they chasing quick cash?
✅ Are your core values and ethics aligned?

🚨 One very important thing I want in a partnership is someone who will step up and get things done if something goes wrong.

It’s easy to look great in good times, but when things get tough, that’s when you’ll be thankful you went through these questions.

Questions to Discuss With Your Potential Partner

Once you’ve vetted the person and feel good about moving forward, it’s time for the tough conversations.

💬 What happens if one of us passes away?
🔹 Are you now partners with their spouse? Their kids? Do you have a buyout plan?

💬 What happens if one of us wants out?
🔹 Is there a structured exit plan, or will it turn into a legal battle?

💬 What happens when we disagree?
🔹 How will you settle disputes?
🔹 Will a third-party mediator decide if you hit a deadlock?

What Do YOU Look for in a JV Partner?

Every investor has different criteria for choosing the right partner. What’s on your checklist?

📲 Drop your thoughts in my Facebook Group! Let’s compare notes and learn from each other.

💬 Tag me & use #LifestyleREI