partnering for profit david campbell and jeff lerman

www.HasslefreeCashflowInvesting.com

Partnering for Profit…and How to Avoid the Pitfalls

David Campbell Hassle-Free Cashflow Investing

David@HasslefreeCashflowInvesting.com

Jeff LermanAttorneyJeff@LermanLaw.com

David Campbell - FounderHassle-Free Cashflow Investing

Former high school band director Self-made multi-millionaire

Real Estate investor / developer / brokerFinancial educator / author / speaker

Houses, condo-conversion, multi-family, winery, resort, office, retail, medical office, production home building

Faculty Member: Investor Summit at Sea with Robert Kiyosaki

Jeffrey H. Lerman, Esq. Jeffrey H. Lerman, Esq.

•Featured expert—TV, radio, newspapers•2007 President, Marin County Bar Ass’n.•“The Real Estate Investor’s LawyerTM”•Chair, CA Bar Real Estate Litigation Section •Chair, Marin County Bar Real Property Section•General Counsel, 2 RE syndication companies•30+ yrs experience•Real estate investor•Real estate broker

www. RealEstateInvestorLaw.com

Jeffrey H. Lerman, Esq. Disclaimers & Cautionary Notes

This educational seminar is not a substitute for getting your own legal advice. This webinar is offered with the understanding that the speakers are not offering legal or other professional advice. Any actions with regard to the information contained in this seminar should be undertaken only upon the advice and counsel of competent legal and tax professionals. Receiving this information does not create an attorney-client relationship between you and the speaker.

Jeffrey H. Lerman, Esq. Disclaimers & Cautionary Notes

This educational seminar is not a substitute for getting your own legal advice. This webinar is offered with the understanding that the speaker is not offering legal or other professional advice. Any actions with regard to the information contained in this seminar should be undertaken only upon the advice and counsel of competent legal and tax professionals. Receiving this information does not create an attorney-client relationship between you and the speaker.

Disclaimer

I’m not your lawyer.David’s not your

advisor.

You can’t sue us.

ProfitMoney + Time + Hassle

More profit with less invested

Today’s VIPs(very important points)

• Develop relationships with strategic partners• Cultivate those relationships to acquire great investments• Invest without worrying about getting financing• Position yourself for incredible investment returns• Protect yourself from your partner’s problems• Structure your joint venture and document your deal• Minimize partner disputes and stay out of court• Avoid the securities laws completely• SPECIAL INVITATION!

High School Band Director ($37,000/year)

1995-2005

My First Real Estate Purchase 2 bed / 2 bath condo

Stanton, CA (Orange County)

Bought: $137kSold: $197k

2000-2001

My ticket out of the rat race!

David’s Dandy Bright

Lake Elsinore, CA I-15 & Hwy 74

Year: 2002

1.5 acresfreewayfrontage

$200,000nothing

nothing

what I was thinking what my wife was thinking

Year: 2012

1.5 acresfreewayfrontage

$770,000 -$1,200,000

$570,000 profit / $40,000 investment = 1420% ROI over 10 years = 142% annualized

Costco

Staples

Walmart

24 hrfitness

Walgreens

Starbucks

Gamestop

Home Depot

Lake Elsinore, CA

2002-2004

Patterson, CA

Bought: $275kSold: ???????

2004-2005

Jeff Lerman says to young David Campbell

“If you find a good deal bring it to me and I’ll fund it.”

30 unit condo conversion - Vallejo, CAEquity Partner + Hard Money Lender + Manager

Bought: $3,000,000Rehab: $600,000Sold: $4,800,000

2005-2007

BEFORE AFTER30 unit condo conversion - Vallejo, CA

30 unit condo conversion - Vallejo, CA

BEFORE AFTER

Development of rental homes in Dallas-Fort Worth

Development

2008-2012

Capital

entrepreneur

2011-2012

ConstructionLeasing

Management Equity

Distressed Strip Mall

entrepreneur

2011-2012

Construction Management Equity

Leasing / Anchor Tenant

Conversion from Bank to Medical Office

entrepreneur

David Campbell on the teaching faculty of the Investor Summit at Sea with Ken McElroy- best selling author of ABCs of Real Estate Investing

2011-2012

David Campbell on the teaching faculty of the Investor Summit at Sea with Robert Kiyosaki - best selling author of Rich Dad, Poor Dad

“Why This May Be the Ideal Time to Buy Real Estate”

“The real-estate sector, for the first time in years, is serving as a beacon of relative strength in an otherwise weak economy… Some of the

world's smartest investors, including Warren Buffett, are taking notice, placing big bets on a continued recovery in the housing market... [M]ost economists say the odds are good that real estate will be stronger over the next few years than it has been in the past few… That has caught the attention of many investors, including Mr. Buffett, who in February

said he would buy "a couple hundred thousand" homes if it were practical… "There's great opportunity in actually buying residential

homes directly for investors who have the capital," … "Prices are clearly turning the corner, and housing affordability is the highest in a

generation."

August 3, 2012

May 21, 2012 May 21, 2012

“Why This May Be the Ideal Time to Buy Real Estate”

“If you were thinking about making a move on a piece of property, right now is possibly the best time….

… Although prices are still near 2003 levels, the signs of an impending resurgence are everywhere you look….

For Americans who either have cash to buy or a credit score good enough to obtain a mortgage, there’s still time to get a killer

deal on real estate, but that window may be closing. If your

finances can support it, now appears to be a great time to buy.”

May 21, 2012

May 21, 2012 May 21, 2012

What’s Holding YOU BackFrom Taking Advantage of What Could Be The Best Time In Our Lives

to Invest?

What’s holding you back?

Band Director

DeveloperSyndicator

Jeffrey H. Lerman, Esq. Lerman Law Partners, LLP

Profits

Diversification

Growth

Connection

Accountability

Profits

Cheaper

Easier

Faster

CHeaper

Easier

Faster

Working with PartnersDeal-Time-Money-Credit

Working with Financing Partners

Forming Partnerships to Buy

Some Partnering Pitfalls

No written agreement Agreement written by non-lawyer Agreement written by inexperienced lawyer No oral agreement Communication breakdown

Real World Case Study• 2 partners• 3 real estate development JVs• 10 years• Multi-million dollar dispute• Primarily involved issues of how

additional capital infusions should be characterized : loans v. capital contributions

Most Common JV Disputes

Breach of fiduciary duties (good faith, care, loyalty)

Whether partner has fulfilled promised commitments of time, money or effort

Expulsion Buy-out amounts

Most Common JV Disputes

Profit/loss allocation and distributions Admitting new partners Re-allocations due to changed

circumstances Unauthorized acts

#2: What is the best form of ownership for you and your

partner?• Partnership Form

–General Partnership –Limited Partnership –Limited Liability Company

• TIC –Advantage: allows partners to

make different choices re 1031 on exit

If you’re considering TIC……then each individual tenant in

common again confronts the entity question

#11: What If More $$ Is Needed?Required or not?Caution: 3rd party creditorsIf required:

– Who decides?– Procedure?– Timing?– Consequences if there is a cash call

default?– Loan?

#11: What If More $$ Is Needed (cont’d)?

– To the entity?– To the member?– Terms?– At what point

dilution? At what point

should the venture be terminated?

Consider representation and warranty re

15 Other Key QuestionsEvery Investor MUST

Discuss With Their Future Partner BEFORE Entering A

Joint Venture…Or Else

A team of experts presents a 4-1/2 hour content-rich webinar (no back-end pitches; this was the MAIN EVENT) where investors just like you learned cutting-edge strategies to:

Find just the right strategic partner to meet your needs Convert your properties from problems into profitsAvoid foreclosureAvoid bankruptcySave your creditFind great investmentsInvest without worrying about getting financingInvest with bad creditPosition yourself for incredible investment returnsHow to use your self-directed IRA funds to invest with a partner

Plus, they learned the most common mistakes and how to avoid them.

Plus, essential techniques every investor MUST know when dealing with partners, including:

How to protect yourself from your partner's problems (including potential future bankruptcy!)

Alternative structures for your joint venture

How to minimize partner disputes and stay out of court

How to document your deal

How to protect yourself from the "deadbeat" partner

How to avoid the securities laws completely (this is NOT a syndication seminar)

And much, much more!

Joint Venture Agreement Form

(this form alone would cost you at least $1,000 if you paid me to

create it)

Testimonials

Tom AndersonCEO and Founder of Pensco Trust Company, the country's only single-

service special asset custodian for self- directed IRAs.

Stephen Moskowitz, Esq.Senior Partner, Law Offices of Stephen Moskowitz, LLP

Robert HelmsA national television and radio personality and real estate

syndication expert

Jeffrey H. Lerman, Esq."The Real Estate Investor's Lawyer“sm and 2007 President of

the Marin County Bar Association

Lerman Law Partners, LLP Jeffrey H. Lerman, Esq.

Agenda

YOU WILL NOT BE ABLE TO HEAR THIS THROUGH YOUR COMPUTER

SPEAKERS! YOU MUST CALL (641) 715-3222

AND DIAL ACCESS CODE 613-149-968

AGENDA

Business Legal Tax Using Your IRA 1031 Exchanges Q & A

BONUS #1

Free 15-minute Legal Consult With Jeffrey H. Lerman, Esq. (Value $120)

1st 10 Only

Strategy consultation with David Campbell

you’ll learn how to

* Develop relationships with investor partners* Best practices for ongoing investor relations* Find & evaluate deals* Divide benefits between you and your partners* “Get out of the rat race” forming partnerships

BONUS #2

ACTION BONUS30 minute follow up consultation

with professional investor David Campbellto brainstorm your plan into

ACTION

1st 10 Only

100% Satisfaction Guarantee

If you are not satisfied for any reason, simply notify us within 30

days after your receipt and we'll give you a 100% refund. This does not constitute a guarantee, warranty, or prediction regarding your results.

This is only a guarantee that you will be satisfied with the content of this

educational product.

SummaryWHAT YOU GET WHAT IT’S

WORTHYour 15-minute legal consult $120

Your Action Plan Brainstorming Session $150

Joint Venture Agreement Form $1,000

4.5 Hours With Experts $1,600

TOTAL: $2,870

www.hasslefreecashflowinvesting.com/video/partnering-for-profit

Q&A: Partnering for Profit

David Campbell Hassle-Free Cashflow Investing

David@HasslefreeCashflowInvesting.com

Jeff LermanAttorneyJeff@LermanLaw.com

www.hasslefreecashflowinvesting.com/video/partnering-for-profit

partnering for profit david campbell and jeff lerman

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