New investor looking for a dependable JV partner on some projects
I am new investor and I drive for Uber/Lyft on the side. I come across distressed properties driving all over the city of Atlanta and am looking for a dependable honest JV partner to work with to acquire these properties and flip. I have a pretty long list right now but don't have the credit and cash on hand to get the properties right now. Please inbox me if interested.
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#5 Mobile Home Park Investing Contributor
- Rental Property Investor
- Clarkston, GA
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#5 Mobile Home Park Investing Contributor
- Rental Property Investor
- Clarkston, GA
Hi Koritas, I hear this request often. My best tips are:
- Join the local REIAs, this is where experienced investors hang. The face to face flipping (etc) groups.
- Some REIAs have a few bad apples in them.
- Vet everyone for a few months. Go to their current projects. Drive their past projects. Talk to all of their past JV partners.
- I work with about 1 new person every 9 mo who had most of their money taken by a local "guru/coach".
- Be a deep study on how a JV is supposed to be setup to protect you. Either you find the deal and close into the warrantee deed, or you are the lender then you must close into a security deed and note. The note / security deed spells out the terms: an example: 8% prefered plus 50:50 on profit at the end.
Good luck