Joint Venture (JV) Agreement

JOINT VENTURE AGREEMENT
This Joint Venture Agreement ("Agreement") is made and entered into as of [Date], by and between [Partner A Name], an individual ("Partner A"), and [Partner B Name], an individual ("Partner B") (collectively, the "Partners").
RECITALS:
WHEREAS, the Partners desire to enter into a joint venture ("Joint Venture") for the purpose of acquiring, rehabilitating, managing, and ultimately selling or holding as rental the real property commonly known as [Property Address], [City], [State] [Zip] ("Property"); and
WHEREAS, Partner A will contribute capital funding to finance the acquisition and renovation of the Property, and Partner B will contribute operational expertise, management services, and contractor oversight to execute the Project; and
WHEREAS, the Partners desire to set forth herein the terms and conditions governing the Joint Venture.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:
1. PARTNERSHIP STRUCTURE
The Joint Venture shall be conducted as a partnership or through a Limited Liability Company ("LLC") to be formed, with the Partners as the sole members. The legal name shall be [Joint Venture Name]. The Principal Office shall be located at [Office Address].
2. CAPITAL CONTRIBUTIONS
The Partners agree to contribute capital and resources as follows:
(a) Partner A Contribution: Partner A shall contribute $[Partner A Capital Amount] in cash to fund the acquisition of the Property, all acquisition costs, and the initial rehabilitation budget. Partner A's contribution shall be due within [X] days of execution of this Agreement or such other timeline as mutually agreed.
(b) Partner B Contribution: Partner B shall contribute all operational management, project management, contractor coordination, tenant management, and administrative services. Partner B's services shall be valued at $[Partner B Service Value] or at fair market rates for such services during the Joint Venture term.
(c) Additional Contributions: Either Partner may make additional capital contributions to the Joint Venture upon mutual written consent. Any additional contributions shall modify the ownership percentages accordingly, unless otherwise agreed in writing.
3. OWNERSHIP INTEREST AND PROFIT SHARING
(a) Ownership Percentages: Partner A shall own [X]% of the Joint Venture, and Partner B shall own [Y]% of the Joint Venture, totaling 100%.
(b) Profit Distribution: After all capital contributions have been returned in full to the Partners, Net Profits shall be distributed to the Partners in accordance with their ownership percentages. Net Profits shall be calculated as gross revenues less all operating expenses, capital expenditures, debt service, taxes, insurance, and other costs incurred in connection with the Property.
4. ROLES AND RESPONSIBILITIES

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