Posted by Tungsten Management Group
Last updated 17th June 2020
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As we reach the end of 2018, I wanted to pause and reflect on the past 9 months as TMG have achieved a tremendous amount. Since April 2018, TMG have purchased an additional two properties; the first is now fully let to four tenants and the second (bought in early September) has been fully refurbished with 5 ensuites and a modern kitchen installed, full re-wiring and plumbing, plastering, painting, two chimney stack removed and the garden has been made useable again. For a video tour and images check out the Properties to Let page (https://tungstenmg.com/properties-to-let/).
The growth of TMG is down to investment, education and drive from the team and this is leading the company onto our next three ventures all with Joint Venture partnerships!
I would like to share this article from the team at Property Geek who have created an insightful article on Joint Ventures, check out the article here https://www.propertygeek.net/article/property-joint-venture-agreements/. The piece states how to set up a joint venture from finding someone to the legal agreements, the reason for and against the idea of becoming a partnership and all the forms a joint venture can take.
The key to Joint Venture partnerships are:
But with the above said, you need to ensure that you have a clear vision and choose a suitable partner who shares the same values and vision. Knowing what an investor can offer and knowing what you want to achieve will ensure synergy. You need to ensure that your goals and skills align so that it is a win-win for all parties. For more information read Property Magic by Simon Zutshi
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