Vlad, I’d do everything David said AND I would really try in advance to confirm (through references, public records, and my intuition) the JV partner’s reputation. I’d also try to find someone with something to lose if their reputation were to take a hit or (like in my case, as a licensed broker) who has to answer to a real estate board or other disciplinary body regarding ethics complaints, etc., since someone can file a complaint against a real estate licensee without the expense of hiring an attorney. Hopefully you just find someone who is trustworthy, because a slime ball is just going to find ways to circumvent your agreement or make it too financially onerous for you to litigate and come out net positive even if you prevail (esp. if your JV agreement or statute doesn’t provide for the ability to recover attorney fees). That said, I guess if you confirm someone is doing consistent deals, as David recommends, it’s less likely they’ll have any real incentive to breach your JV agreement – it would be too short-sighted (in theory).

@Cody Cook Seems like you’re doing everything correctly. There an re probably many different answers, but for me, I would interpret a positive email reply as permission to call. I’d pull their number from deal machine and at a minimum, call them and (probably) text them. If they were a distressed lead, I would follow up with a handwritten note (mailed or hand-delivered) and continue to reach out selectively until it became apparent that the situation had been resolved (via public records or MLS update) or they explicitly asked me to not reach out. I also think this would depend on the perceived value of the lead and how full my pipeline was at the time.

@David Frizzell Agree 100% David. I should have clarified: I’d text to see if I could get them to agree to a call.

That’s awesome. Seems like it’s just a matter of time and tracking your ratio of “not interested” to “interested” or “maybe.” What’s your reply rate (%), roughly?

😂