New investor looking for a dependable JV partner on some projects

[Koritas Jones]

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.

[Curt Smith]

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