Joint Venture Agreement Advice

[Troy Egar]

Hello everyone, Hope you're having a great day! I'm a new investor and have recently started going out to meet-ups, networking, and trying to find deals. The other night I met a more experienced investor at a non-BP meet-up who owns about 50 units and does rentals, flip, wholesales etc. We discussed an agreement where he would be the one finding the deals, getting the funds, and running the overall process as he has much more experience, obviously. My part in the agreement would be to hunt the leads he provides and to learn and contribute where needed. The distribution of work here is reflected in the share of profits which I find to be very fair. Only caveat is he wants me to sign a JV contract, which I don't have much experience in (as I'm not a lawyer) and I suppose I also don't know him very well either. I'm not sure what to do here. I think this could be a great opportunity to learn from someone more experienced while providing value but also don't want to sign myself into a contract that could end up putting me in a bad situation down the road (which I don't know if this is true but you get my point). I would appreciate any advice about this, especially if you've been in a similar situation. Thank you! Best, Troy