j.v. partners

[Levon Williams]

hello bp

i have a question on establishing a jv partnership. hows does dodd frank effect me and the jv partnership. the jv partner is a good friend of mine and we have know each other for over 8 years. i have never ask them for any money ever. he and his wife are very well off financially. my first concern is how do i approach them to get involved with me and real estate investing as a jv partner? i know there are no guarentees in any investment and they understand that also. they have bought and sold several properties as owners. my second concern is how do i build creditbility since i have never done a transaction yet. i have been studying bp for a while now and its always the money that holds me up. i do not have a property under contract as of yet although im am looking at a few now they may or may not work doing deal analysis.  

thanks to all for the great information on bp. i look forward to all responses.

i am the real newbie