A newbie considering a joint venture

[Arteshia Darby]

Good evening BP,

I just want to say, sitting on BP all night is so much more rewarding than FB or IG. I love the knowledge base that's here. Anyhoot, I am finally coming to the end of attorney review on my first deal and I am up in the air with what I want to do with the property. Ultimately I want to go big and go for the fix and flip to save up some capital for buy and holds in the future, but since this would be my first fix and flip I don't want to be so far away from home, nor do I want to try to do it myself with my limited funds. The property is about an hour and a half away from home and I do work a 9-5. I've been strongly considering wholesaling it since I've negotiated a purchase price of nearly 40% of the ARV. This would seem like the quickest and easiest way to make a sizable profit without putting in so much work. I have also been entertained with the thought of doing a joint venture with a more seasoned investor who has the money if I bring the deal. I really want the experience of doing my first fix and flip and I feel like a joint venture would help me get the experience as well as a partnership to help along the way.

My question is, what are some things I should consider if I choose to go with the JV?