How to screen a joint venture opportunity?
I was recently asked about working a joint venture with a gentleman in my County. He explained he is looking for people to work with and explained some expected cost I would need to consider in our pre-screening call like:
Marketing: $100-200
LLC: $100
Software: $100/monthly
Potential earnest deposit: $1000
None of this sounds crazy but I'm always leery of people. He said the joint agreements would be 50/50 and have signed contracts. Asked about my credit score when working with the banks.
I have a face to face meet up this Tuesday and wanted to see what kind of questions should I ask to know he's legit and not suckering me into something? Anything a JV contract should say for my protection (prob should have a lawyer review it)? Any signs I should look for or has anyone had a situation similar?
I'm trying to give the benefit of the doubt so I can say I didn't hustle every possible opportunity but the Jersey Boy in me isn't the most trusting.