Shoaib,
I expect that your favorite Researcher will answer this and maybe
correct me, but that is preferable to my appearing to comment on his
posting.
The fine reading of the quotation says that JV partners "CAN provide
... to pay for all ... closing costs or soft costs ...."
The statement is speaking about financing of the "closing costs or
soft costs," not about ALL the financing related to the project.
As explained in the answer to your previous question: JV partners are
two (or more) parties (companies or individuals) joining to cooperate
on a common project, each of the parties bring something into the
project, usually both some of the financing; less often, one the
financing and the other expertise: management, patents.
Since you have often been asking about 100% financing of real estate,
it seems appropriate to point out that just the idea of a real estate
project - the identification of a real estate project - is not the
provision of expertise that would justify a joint partnership. This
could be the case, if the person owned the land, but not if the land
had to purchased and financed. The financing partner, who is carrying
the entire risk, could do the project by himself. The other person
would just be a broker, someone who introduced the project to the
financing party. That is what real estate brokers do, take a
commission, and then are no longer involved in the project.
If you look at the real estate projects offered on the "jvseek.com"
site, you will see this: people with a property seeking a PV partner
to develop it, the property available as collateral. It is also
obvious that the site itself is only a broker; it just provides a
place where people seeking a partner can list their project.
You may also be interested in the "about" page of the parent site:
http://gpmn.com/about/terms.htm
and also on the "home" page that it says that service was interrupted
and that there is a new owner as of September this year.
Then there is the little but important word "can".
All these websites are advertising services and financing. "CAN"
means that they are able to - if they want to - that they MAY be
willing to; but it does not mean that they WILL, that anyone can
expect or insist that they do so.
As the "about" page explains, jvseek and gpmn make no promises nor
take any responsbility. They do not HAVE any JV partners, they are
only a bulletin board for parties seeking JV partners.
Myoarin |