Don R. Campbell - Real Estate Joint Ventures: The Canadian Investors Guide to Raising Money and Getting Deals Done

Copyright 2011 Don R. Campbell and Russell Westcott

All rights reserved. No part of this work covered by the copyright herein may be reproduced or used in any form or by any meansgraphic, electronic or mechanical without the prior written permission of the publisher. Any request for photocopying, recording, taping or information storage and retrieval systems of any part of this book shall be directed in writing to The Canadian Copyright Licensing Agency (Access Copyright). For an Access Copyright license, visit www.accesscopyright.ca or call toll free 1-800-893-5777.

Care has been taken to trace ownership of copyright material contained in this book. The publisher will gladly receive any information that will enable them to rectify any reference or credit line in subsequent editions.

The material in this publication is provided for information purposes only. Laws, regulations and procedures are constantly changing, and the examples given are intended to be general guidelines only. This book is sold with the understanding that neither the author nor the publisher is engaged in rendering professional advice. It is strongly recommended that legal, accounting, tax, financial, insurance and other advice or assistance be obtained before acting on any information contained in this book. If such advice or other assistance is required, the personal services of a competent professional should be sought.

REIN is a registered trademark of South Pacific Education Corporation.

The ACRE system is a registered trademark of South Pacific Education Corporation.

Cash Flow Zone is a registered trademark of South Pacific Education Corporation.

REALTOR is a trade mark of the Canadian Real Estate Association.

Library and Archives Canada Cataloguing in Publication

Campbell, Don R.

Real estate joint ventures : the Canadian investor's guide to raising money and getting deals done / Don R. Campbell, Russell Westcott.

Includes index.

ISBN 978-0-470-73752-1

1. Real estate investmentCanada. 2. Joint venturesCanada.

I. Westcott, Russell II. Title.

HD316.C319 2011 332.63'240971 C2011-906558-4

ISBN 978-0-470-67611-0 (ePub); 978-0-470-67610-3 (eMobi); 978-0-470-67609-7 (ePDF)

Production Credits

Cover and interior design: Ian Koo

Typesetter: Thomson Digital

Printer: Friesens Printing Ltd.

John Wiley & Sons Canada, Ltd.

6045 Freemont Blvd.

Mississauga, Ontario

L5R 4J3

www.wiley.com

Meet the Authors

Don R. Campbell is the President of the Real Estate Investment Network (REIN), whose membership exceeds 3,000 successful Canadian real estate investors with a combined portfolio that tops $3.3 billion in residential real estate.

The author of the Canadian best-seller Real Estate Investing in Canada 2.0 , a book that all real estate investors should have as an action tool and reference, Don is an active real estate investor who teaches proven real estate investment strategies at live workshops held across the country. A popular real estate commentator in private and public media, he has become Canadian media's go-to real estate analyst. Don has also co-authored several other real estate investment books, where he shares his market and investment research alongside years of his own hands-on experience.

In addition to helping countless investors achieve their dreams, Don and fellow REIN members have raised more than $675,000 for charities such as Habitat for Humanity. To tap into Don's experience and learn more about his workshops, visit www.reincanada.com .

Russell Westcott is the Vice-President of the Real Estate Investment Network (REIN), Canada's leading real estate education program. A sophisticated real estate investor, researcher and educator, Russell's presentations feature a welcome combination of knowledge, experience, passion and wit.

A real estate expert who speaks from personal experience, Russell manages a growing portfolio that's made him an expert on many trends in real estate investment. He is widely recognized for creative buying strategies that range from forming joint-venture partnerships to leverage financing that turns one property purchase into three or four.

Russell lives his life around four principles: (1) health, happiness and enjoyment of life, (2) family and relationships, (3) contribution and growth and (4) abundance and gratitude. He lives by his credo: You can have anything in your life if you provide massive value that significantly improves people's lives.

Meet the Real Estate Investment Network

The Real Estate Investment Network (REIN) is a research and education company dedicated to providing investors with unbiased research and strategies for the Canadian real estate market. Now entering its nineteenth year of operation, REIN continues to provide research and support in all market conditions, regardless of whether an investor is buying, selling or holding property. With research strategies that are widely acknowledged to reduce risk and maximize returns by helping members ride the upward swings in the market and avoid the downturns, REIN has helped its members safely and securely purchase more than $3.3 billion of Canadian residential real estate.

REIN does not sell real estate, thus keeping its research and strategies unbiased. It teaches its 3,000-plus members to focus on real-life economic fundamentals that put the Authentic Canadian Real Estate (ACRE) system into action. REIN's members focus on long-term wealth as opposed to getting rich quick, and the REIN community meets monthly in select cities across Canada. Members who live outside of Canada, and those who cannot attend regular meetings, receive full recordings of the live events.

By helping its members network with other active investors and providing direct access to leading-edge experts, REIN is the most complete real estate investment program of its kind in North America. This focus on education takes the hype out of the marketplace and enables members to concentrate on what works right in their own backyards. Members are never asked to buy from, invest with or put money into any deal with anyone in or associated with REIN. There are no huge upfront seminar fees, as REIN believes that money is best spent investing in real estatenot on seminars.

To learn more about the benefits of being a member of Canada's most successful real estate investment network, with more than $3.3 billion purchased and almost 20 years of market experience, call 1-888-824-7346 or e-mail your address and telephone number to Don R. Campbell's office at info@reincanada.com. You can also visit www.reincanadamembership.com and click on the What Is REIN? button.

REIN offers a program dedicated to showing Canadians how to create long-term sustainable wealth with real estate investment. We look forward to helping you achieve your own Personal Belize.

Introduction

My first book, Real Estate Investing in Canada , introduced thousands of Canadians to the Authentic Canadian Real Estate (ACRE) system that is used across Canada by investors looking to invest, not speculate. To recap, I'd met Richard McTavishhe and his wife, Emma, are the central characters in the bookon a plane. He won't mind me saying that he was despondent about their financial state of affairs. As we talked, it became apparent that he was interested in real estate as a potential investment, and we agreed that as long as he was serious and willing to follow the system, I would be his coach and introduce him and Emma to other experts along the way.

That got me thinking. Since Richard's story was a lot like most of the stories hundreds of other new investors had told me, maybe I could use it to introduce and explain the ACRE system to a whole lot of people. With Richard's co-operation, we struck a deal. I would provide him with one-on-one mentoring and keep track of the process so I could write a book that would empower more Canadians to invest in real estate.