Flipper Beginner New Jersey

[Michael Roundtree]

Hello BP community,

I've recently been able to find an individual who would be willing to lend me a good amount of cash for REI (unspecified amount at the moment). In order to make sure that this individual's money is safely invested, I wanted to do my first project as a joint venture seeing as though it is a great way to learn. My questions would be how do I vet those who are serious players from those who aren't doing great numbers? and how does a joint venture work when you're trying to learn?

[Account Closed]

Hi Michael,

Congrats on finding money that's a good first step, however, I think you need to learn as much as you can about the business on your own before entering into a partnership with anyone.  The more knowledge you have the better equipped you will be in vetting a partner.  There are many post here about partnering and I would suggest reading and listening to the BP podcast.  I'm not trying to be a "Debbie downer" but encouraging you to be cautious and prepared.  

I'm currently closing on my first SFH and yes I'm excited but I turned down offers of partnering because I need to now put what I have learned into action, so when I do partner I know what/ how things should be. Going through a deal from beginning to end is the best teacher, besides BP, you can have. So, trust yourself, mistakes will be made but do your due dilergence and enjoy the ride. Good luck.