When to start looking for JV investors? It's a question that has come up regularly in the Note MBA inbox. So, we decide to tackle this topic on today's show. We also cover Nevada as a super lien state, using your reserves to invest in deals, we take our first call-in question, and more. It's a freaking jam packed episode! If you dug the call-in segment let us know. We can potentially work out a better system for taking the calls, and bring more of that kind of content to the show. We absolutely loved it. And an future call-in would need to work on matching Iris' energy - which is gonna be no small feat. When To Start Looking For JV Investors There are numerous angles that need to be addressed when you ask this question. One of the first hurdle for many people is fear. When to start looking for JV investors, often time comes down to a person's fear about losing money. And don't kind yourself, as we discussed in last week's show, fear can be an important response to stimuli. However, fear can also be unnecessarily debilitating. Once you've run the numbers, and you're as sure as you can possibly be expected to be that they are accurate, then it's time to move forward. If you have no desire to expand your business past your personal wealth, or family money, then this might not be something that will ever come up for you. However, it's worth noting that for people like Warren Buffett almost their entire wealth has been derived from using outside capital. Only you'll know when it's time, but I'd say error on the side of sooner rather than later. And make sure that the first deal is one that has a ton of room. And be ready to make mistakes. Super Lien & Deficiency Judgements One of the best parts about doing this show is getting to talk with a wide variety of investors from all over the country. Mostly those conversations happen over email or on Facebook - until we make it out to an event and meet everyone face to face. Today we decided to change that up a bit, and we took our first call-in question from an investor. Now, if you want to get technical this was a call-out, but let's not argue over semantics. Either way, it was an awesome opportunity to talk with an investor that wanted some guidance on an issue out in Nevada. She wanted some clarification on our exepeirnce with deficiency judgments and super lien states. One interesting part about this deal we discussed was the fact that not long ago we discussed some talk of Nevada no longer being a super lien state. So, we'll need to have an attorney from NV on the show to fully clarify, however, it might no matter on this particular deal because there might be some grandfather. That's a big maybe though. All of this is because, as the investor notes, all the super lien, HOA foreclosure hoopla has become more and more convoluted as time has passed. That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com. Listen & Watch this Week’s Show to Learn: When to start looking for JV investors Why It's Important Not To Use ALL Your Money For Investments What's Your Number What's A Super Lien State And Why It Matters Can An HOA Foreclose On Your Deal And much more! Featured on the Show: Due Diligence Pro Super Lien Status For Nevada & Being Effective Not Just Efficient Bourne Valley petitioning to the Supreme Court Court of Appeals rules that Nevada HOA liens do not supersede first mortgages Listening Options: Subscribe via iTunes. Listen on Stitcher Radio. Right-click and “save file as” for direct download. Or click here to get sent to the top of the page where the on-site player is.   Thanks for listening to our show! We’ll be back next Wednesday morning. Cheers, Chase & Robby