Got my first deal on the contract

[Zachary Vanison]

hey bigger pocket‘s family first in for most thank you guys for creating this platform thank you so much now my goal is to be a buy and hold investor but I've been having problems getting the money for down payments so I decided to wholesale to get the money I ran to the whole Saturday needed help so him and I decided to JV on a deal he found that he need help with the deal is under contract but we do not know how to do the JV professionally with the paperwork any advice we have 30 days to close

[Edward Zachary Samperio]

Congratulations on finding a JV partner for your wholesale deal! It's important to have a solid agreement in place before proceeding with the deal. Here are a few steps you can take:

1. Discuss and agree on the terms of the joint venture, including how profits will be split, who will handle what tasks, and any other important details. Make sure to get everything in writing.
2. Consult with a real estate attorney to help you draft a joint venture agreement that outlines the terms of your partnership. This document should be signed by both parties and include provisions for dispute resolution, termination, and other important clauses.
3. Make sure you have a solid understanding of the purchase contract for the property, as well as any other legal documents related to the transaction. If you're not familiar with these documents, consider hiring a real estate attorney to review them with you.
4. As you work through the transaction, keep accurate records of all expenses and payments made, as well as any other relevant information. This will help you stay organized and make sure that you and your JV partner are on the same page.
5. Finally, communicate openly and regularly with your JV partner throughout the transaction. This will help you avoid misunderstandings and ensure that you're both working towards the same goals.

Remember, it's always a good idea to consult with a real estate attorney before entering into any joint venture or partnership agreement. Good luck with your deal!