Background: I have an opportunity to do a Joint Venture on a single family home. The business model is profitable and the cash flow looks good.
Problem: I was introduced through a mutual acquaintance. I do not know this individual from Adam and I am not to keen on working with people I do not know and trust well.
Question: Has anyone ever purchased property with a near stranger? If so what precautions did you take? What red flags did you look for? Any other practical advice?
It looks like a good opportunity, and a good opportunity to learn from someone that has been doing it for a while. But I’m not to keen on being hustled or taking unnecessary risk.
@Ricky Jackson, Jr. If someone is suggesting a SFR in this market will cash flow well I would become suspicious! LOL
You might see if he shows up on social media, FB etc. You could suggest full disclosure through mutual background checks? If that queers the deal you might have found out that you were right to be worried. All the best!
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