Jv vs partnership what do I do

[Calvin Schmeling]

I've heard from a lot of people always test the waters through JVing with your future partner before going into an LLC first. I am really unfamiliar with JV and don't know how it works. Is it its own entity? And how do I even JV with the person I am trying to partner with? When the deal goes through does the JV have it's own bank account the money goes to?