Need advice on a deal

[Randi Shannon]

Hi! I'm Randi! I am VERY new to all this. Really still in the learning stage. I received a large inheritance around a year ago and I've been brainstorming ways to make it grow, mainly in real estate. I reached out to a guy I know on my Facebook who flips houses, claims to own a construction company, in hopes of gaining some knowledge. He suggested going in on a JV agreement. He seems to be very fixated on this one house that he's already purchased that needs beams/piers? Floor is slanted downward in a room and wants me to buy from him. At first the deal would be I purchase the house for 35k and then he put in 30k in repairs and then we're resell it for 90-100k. First I assume he would already make a profit from me buying the house from him. I told him I was on the fence and needed to gain some more knowledge before I drop 35k on something. He keeps saying im doing too much research and not enough action. He introduced me to his attorney and while speaking with him, the deal was then somehow changed to where I loan 65k. 🤔 and then get interest on the loan and split the profits. He offered a legal personal guarantee. So I Google him.. see if has property taxes.. try find some info, see if he even has 65k in personal assets to make this feel less sketchy. But I really can't find any info on him. Can't find his business on Google although he took me to a jobsite for another flip he's doing, and he is obviously is renting his house. I'm just trying to figure out how to make this a secure deal where I don't get screwed. Or how is he trying to screw me? Im not one to just jump into stuff. I would prefer to learn the rules of the game before I play. I would think i would need to see his track record with previous loans. I haven't seen any paperwork or any numbers, other than what I've been told from the numbers above. I just need some advice.. I have no idea what I'm doing but I'm researching like crazy trying to learn. He keeps texting and I keep leaving him hanging lol. I feel like he does have valuable information and I would like someone to mentor me through a flip, but want to know I can trust their actions.