“Shoulda, Coulda, Woulda.”
Two of our clients at RMLO Law LLP decided to do a Joint Venture on an apartment building in Edmonton. The ‘real estate expert’ client had a lot of experience and already owned a number of apartment buildings in Alberta—all running very successfully. The ‘money partner’ client was relatively new to the real estate business. Projections were made, some data exchanged, and the Joint Venture went ahead.
Unfortunately, this particular apartment building did not work out nearly as well as the other apartment buildings already owned by our ‘real estate expert.’ Once things were not going according to expectations, both clients were unhappy with each other. Continue reading