LEGAL: Loaning 5k to a newbie real-estate investor
Hello Everyone,
I am new to the real-estate investing world. I have 5k that I am trying to loan to an acquantance of mine who has done a few deals. I would consider him relatively new as well.
He is buying FL state foreclosures and selling them and is interested in making me an investor at 5k.
My question is, are there any legal implications or documents I need/need to consider before entering into this partnership/deal and giving him my 5k?
While 5k is not a whole lot in terms of capital, I would still like to protect the money in any way possible. Thank you!