Joint venture funding

There are a small number of funders that will offer a full 100% of cost facility to experienced developers. Effectively, the joint venture becomes the expertise and contacts of the developer married with the cash of the funder. As you would imagine these transactions are negotiated very much on a case by case basis, but quite often there will be an agreed interest rate that attaches to the monies advanced to the project and a profit share to the funder with a minimum agreed value (on that basis that any cost overruns or reduced sale prices are the responsibility of the developer).