Collective investors
Hi BP community!
I'm talking to a guy here in Albuquerque who claims to be a licensed real estate agent and a project manager for investors. He offered me to join his collective group of investors with the amount of money I feel comfortable and said he tries to only find flip projects with 30% ROI.
I have met him 3 or 4 for coffee and he doesn't seem pushy at all.
He has his website and showed me his selling/flipping history.
He recommended me to contact banks and lenders to check my credit and they seem to know his name at these institutions.
He took me to one of the projects he is managing and introduced me to one of his investors and contractors.
My question to you guys is; what else should I do to protect myself and my money if I decide to go in, with cash, and join his collective investors.
I told him I would like to start small and with cash and he said a money wire or check will be all I needed to do and after that investors are updated weekly on the invested project and can visit the flip as many times as we want to check on the progress.
Please advice before I get ripped off ????
Thanks BP
Emmanuel