How to avoid being screwed?

Have a solid proposal for a small retail real estate development. There's a couple of local real estate developers in the area that specialize in the type of project I have in mind.

Since I don't have the cash or expertise, I want to see if they would individually be interested in a joint venture. Its my idea, I can bring a little cash to the table, and would be happy to take lead on the project. As a banker, I can really help with the financing piece.

Highly doubt asking to sign an NDA would be the best way to start a relationship.

Is there a way to protect my ass?

What's a fair, logical, and equitable way to structure a partnership in this case?

 
Most Helpful

Are you using a broker? Or just submitting it directly? Was it on the market or off-market? If it's on the market and listed, then the seller would have no interest in financing your purchase since they want to just sell it....

If it's listed by a broker, it would help having a reputable broker represent you and give you some credibility and help facilitate the transaction and help you (and even the seller) understand the necessary DD period.

PM me and I can give you some more guidance. I was a retail/land broker for 9 years.

 

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