To watch a video of this presentation visit: http://www.hasslefreecashflowinvesting.com/video/partnering-for-profit/ Every real estate deals needs: -Cash and/or Credit and/or Equity -Time -Talent -Strategic relationships -Control of a great property As a real estate investor, YOU don’t need all of these resources to create income. You just need the skill to assemble and manage a team who can bring all of the above resources. As a former high school band director who became a multimillionaire through the vehicle of real estate, I am living proof that anyone can succeed if they cultivate lifelong relationships with the right partners. This is one of the most unique, unprecedented times in real estate investing. Ever! There is strong evidence that QE3 has started (QE3 = economic policies to stimulate inflation) and levels of “for sale” housing inventory are shrinking to record lows. This is the best buyer’s market in our lifetime. Don’t sit on the sidelines because you personally don’t have all the resources to do a deal. -Can’t find a property that makes economic sense? -Can’t afford the down payment to buy new properties? -Can’t get financing? -Can’t find the time to invest in real estate? Whatever your biggest real estate problem is, there is most likely one or more people who you can team up with to solve it. Whatever your unique challenge may be. The answers are out there. You just need to be made aware of the possibilities. In this sixty minute FREE webinar with professional investor David Campbell and veteran real estate attorney Jeff Lerman you will learn how to: 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 Structures your joint venture and document your deal Minimize partner disputes and stay out of court Avoid the securities laws completely And much, much more! MEET OUR WORLD CLASS FACULTY David Campbell is a professional investor, broker, syndicator and developer who enjoys counseling clients on creative real estate investment strategies. Jeff Lerman is “The Real Estate Investor’s Lawyer” and 2007 President of the Marin County Bar Association. Mr. Lerman has been featured nationally and locally on Fox News, CBS News and NBC News. Mr. Lerman will identify important legal issues that every partnership should discuss, agree upon and document before they seal the deal. Mr. Lerman’s experience not only with putting deals together but in handling partnership disputes through litigation will help you structure your deals to minimize future disputes. For more FREE educational content, visist www.HassleFreeCashflowInvesting.com

1. www.HasslefreeCashflowInvesting.com
Partnering for Profit…
and How to Avoid the Pitfalls
David Campbell Jeff Lerman
Hassle-Free Cashflow Investing Attorney
David@HasslefreeCashflowInvesting.com Jeff@LermanLaw.com

2. David Campbell - Founder
Hassle-Free Cashflow Investing
Former high school band director
Self-made multi-millionaire
Real Estate investor / developer / broker
Financial 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
www.HasslefreeCashflowInvesting.com

3. 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

4. Disclaimers & Cautionary Notes Jeffrey H. Lerman, Esq.
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.

5. Disclaimers & Cautionary Notes Jeffrey H. Lerman, Esq.
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.

6. Disclaimer
I’m not your lawyer.
David’s not your
advisor.
You can’t sue us.

7. www.HasslefreeCashflowInvesting.com
Profit
ROI =
Money + Time + Hassle
More profit with less invested

8. www.HasslefreeCashflowInvesting.com
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!

9. High School Band Director ($37,000/year)
1995-2005

10. My First Real Estate Purchase
2 bed / 2 bath condo
Stanton, CA (Orange County)
Bought: $137k
Sold: $197k
2000-2001

11. www.HasslefreeCashflowInvesting.com
Bright
avid’s Dandy
D
My ticket
out of the rat race!
2002

12. Year: 2002
www.HasslefreeCashflowInvesting.com
nothing 1.5 acres
freeway
frontage
nothing
nothing
$200,000
nothing
Lake Elsinore, CA
I-15 & Hwy 74

13. www.HasslefreeCashflowInvesting.com
what I was thinking what my wife was thinking

14. Year: 2012
Costco
www.HasslefreeCashflowInvesting.com
Staples 1.5 acres
Lowes freeway
frontage
Walmart
Home Depot
24 hr
fitness
$770,000 -
Walgreens $1,200,000
Gamestop
Starbucks
$570,000 profit / $40,000 investment = 1420% ROI
over 10 years = 142% annualized

15. Bought: $300k Bought: $270k
Sold: $460k Sold: $420k
Lake Elsinore, CA
Bought: $275k Bought: $285k
Sold: $450k Sold: $485k
2002-2004

16. Bought: $270k Bought: $290k
Sold: $450k Sold: $460k
Patterson, CA
Bought: $275k
Sold: ???????
2004-2005

17. Jeff Lerman says to young David Campbell
“If you find a good deal
bring it to me and I’ll fund it.”

18. 30 unit condo conversion - Vallejo, CA
Equity Partner + Hard Money Lender + Manager
Bought: $3,000,000
Rehab: $600,000
Sold: $4,800,000
2005-2007

19. 30 unit condo conversion - Vallejo, CA
BEFORE AFTER

20. 30 unit condo conversion - Vallejo, CA
BEFORE AFTER

21. Sales
entrepreneur
Development Capital
Development of rental homes in Dallas-Fort Worth 2008-2012

22. Debt
Construction
Leasing entrepreneur
Management Equity
Distressed Strip Mall 2011-2012

23. Leasing / Anchor Tenant
Construction entrepreneur
Management Equity
Conversion from Bank to Medical Office 2011-2012

24. 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

25. David Campbell on the teaching faculty of the Investor Summit at Sea
with Robert Kiyosaki - best selling author of Rich Dad, Poor Dad
2012

26. poll

27. May 21, 2012
August 3, 2012
“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."

28. 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.”

29. What’s Holding YOU Back
From Taking Advantage
of What Could Be The
Best Time In Our Lives
to Invest?

30. What’s holding
you back?
poll

31. What’s holding
you back?

32. Band Director
Developer
Syndicator

33. www.HasslefreeCashflowInvesting.com

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

35. Profits
Copyright 2004 © Lerman & Lerman – All rights reserved.

36. Diversification
Copyright 2004 © Lerman & Lerman – All rights reserved.

37. Growth
Copyright 2004 © Lerman & Lerman – All rights reserved.

38. Time
Copyright 2004 © Lerman & Lerman – All rights reserved.

39. Fun
Copyright 2004 © Lerman & Lerman – All rights reserved.

40. Connection
Copyright 2004 © Lerman & Lerman – All rights reserved.

41. Accountability
Copyright 2004 © Lerman & Lerman – All rights reserved.

42. Profits
Copyright 2004 © Lerman & Lerman – All rights reserved.

43. Cheaper
Copyright 2004 © Lerman & Lerman – All rights reserved.

44. Easier
Copyright 2004 © Lerman & Lerman – All rights reserved.

45. Faster
Copyright 2004 © Lerman & Lerman – All rights reserved.

46. Safer
Copyright 2004 © Lerman & Lerman – All rights reserved.

47. CHeaper
Easier
Faster
Safer
Copyright 2004 © Lerman & Lerman – All rights reserved.

48. Copyright 2009 © Lerman Law Partners, LLP – All rights reserved.

49. Copyright 2009 © Lerman Law Partners, LLP – All rights reserved.

50. www.HasslefreeCashflowInvesting.com

51. Working with Partners
Deal-Time-Money-Credit

52. Working with Financing
Partners

53. Working with Financing
Partners

54. Forming Partnerships to Buy

55. Forming Partnerships to Buy

56. Some Partnering Pitfalls
 No written agreement
 Agreement written by non-lawyer
 Agreement written by inexperienced lawyer
 No oral agreement
 Communication breakdown

57. 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

58. 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
Copyright 2008 © Jemic Enterprises, LLC, A Delaware Series LLC, Investor Education Institute Series – All rights reserved.

59. Most Common JV Disputes
 Profit/loss allocation and distributions
 Admitting new partners
 Re-allocations due to changed
circumstances
 Unauthorized acts
Copyright 2008 © Jemic Enterprises, LLC, A Delaware Series LLC, Investor Education Institute Series – All rights reserved.

60. #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
Copyright 2009 © Lerman
Law Partners, LLP – All
rights reserved.

61. If you’re considering TIC…
…then each individual tenant in
common again confronts the entity
question
Copyright 2008 © Jemic Enterprises, LLC, A Delaware Series LLC, Investor Education Institute Series – All rights reserved.

62. #11: What If More $$ Is
Needed?
 Required or not?
 Caution: 3rd party creditors
 If required:
– Who decides?
– Procedure?
– Timing?
– Consequences if there is a cash call
default?
– Loan?
Copyright 2008 © Jemic Enterprises, LLC, A Delaware Series LLC, Investor Education Institute Series – All rights reserved.

63. #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
Copyright 2008 © Jemic Enterprises, LLC, A Delaware Series LLC, Investor Education Institute Series – All rights reserved.

65. 15 Other Key Questions
Every Investor MUST
Discuss With Their Future
Partner BEFORE Entering A
Joint Venture…Or Else

67. 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 profits
Avoid foreclosure
Avoid bankruptcy
Save your credit
Find great investments
Invest without worrying about getting financing
Invest with bad credit
Position yourself for incredible investment returns
How to use your self-directed IRA funds to invest with a partner

68. 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!

69. Joint Venture Agreement
Form
(this form alone would cost you at
least $1,000 if you paid me to
create it)

70. Testimonials

71. Jeffrey H. Lerman, Esq.
"The Real Estate Investor's Lawyer“sm and 2007 President of
the Marin County Bar Association
Tom Anderson
CEO 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 Helms
A national television and radio personality and real estate
syndication expert

72. AGENDA
Lerman Law Partners, LLP Jeffrey H. Lerman, Esq.
Agenda
 Business
 YOU WILL Legal ABLE TO HEAR
NOT BE
Tax
 THIS THROUGH YOUR COMPUTER
 SPEAKERS! IRA MUST
Using Your YOU
CALL (641) 715-3222
 1031 Exchanges
AND DIAL
 Q & A
ACCESS CODE 613-149-968
Copyright 2008 © Jemic Enterprises, LLC, A Delaware Series LLC, Investor Education Institute 72
Series – All rights reserved.

73. BONUS #1
Free 15-minute Legal Consult
With Jeffrey H. Lerman, Esq. (Value $120)
nly
0 O
st 1
1

74. www.HasslefreeCashflowInvesting.com
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

75. BONUS #2
ACTION BONUS
30 minute follow up consultation
with professional investor David Campbell
to brainstorm your plan into
ACTION ly
O n
t 10
1s

76. 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.

77. Summary
WHAT YOU GET WHAT IT’S
WORTH
Your 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

78. www.HasslefreeCashflowInvesting.com
Q&A: Partnering for Profit
David Campbell Jeff Lerman
Hassle-Free Cashflow Investing Attorney
David@HasslefreeCashflowInvesting.com Jeff@LermanLaw.com
www.hasslefreecashflowinvesting.com/video/
partnering-for-profit