I have 8 months to be "ready"...HELP PLEASE!!! - LONG

[Shane Woods]

So, any of you who have read my posts over the last few months have heard me mention a possible private investor. Some snickered and many asked the relevant question "what do I bring to the table?" THANK YOU to everyone who commented my posts and contributed to the thousands of topics on this site, to help me understand what I bring to the table, and be able to communicate that effectively to someone with money, looking for better returns.

Little did I know, I had him convinced Months ago to help me start a rehabbing venture. He never communicated to me that he was that serious, which really means I wasn't savvy enough of a businessperson to pick up on it. Lesson learned. No more ***-dragging & better listening.

Enough blabbering, he's given me a January 1st "deadline" to be ready. We've decided to do the first property as follows:

JV agreement where he'll contribute 100% of all capital into the project, including purchasing, holding costs, and rehab up to $100K. Once he's paid back in full, we'll split what's left over 50-50. He's requiring me to take the Texas RE Sales course & exam, even if I don't become an active agent. It will show him my commitment, and that I can save the $$ for the course, knowing I can't really contribute $$ to the first rehab project.

Here's where I need your help...please don't let me miss any steps along the way. I can update here, or start a blog post...y'all tell me what's better for this. And I have a few questions to start off:

1. Danny Day or other Texas agents: How long does it actually take to complete the book/internet RE course in Texas if I'm working on it 10-15 hours/week?

2. Can anyone here point me towards a good contract for our JV? I've seen several on here, and of course I'll have it looked at by a RE Attorney.

3. If he sets up a checking account with $100K to use as capital, what else will be needed from him for a proof of funds?

4. This one's huge...when should I start my direct marketing...knowing I can't close until January? Thinking of using Michael Quarles & Yellow Letter Mail (couldn't @mention for whatever reason), and a We Buy Houses website with a little SEO to go with it.

Thanks again in advance.