All Forum Posts by: Jonathan Blandino

I would be forming my own LLC with me as sole proprietor doing the JV with his LLC.

I did forget to mention this is for flips if that makes a difference.

I was recently asked about working a joint venture with a gentleman in my County. He explained he is looking for people to work with and explained some expected cost I would need to consider in our pre-screening call like:

Marketing: $100-200

LLC: $100

Software: $100/monthly

Potential earnest deposit: $1000

None of this sounds crazy but I'm always leery of people. He said the joint agreements would be 50/50 and have signed contracts. Asked about my credit score when working with the banks.

I have a face to face meet up this Tuesday and wanted to see what kind of questions should I ask to know he's legit and not suckering me into something? Anything a JV contract should say for my protection (prob should have a lawyer review it)? Any signs I should look for or has anyone had a situation similar?

I'm trying to give the benefit of the doubt so I can say I didn't hustle every possible opportunity but the Jersey Boy in me isn't the most trusting.

Hey guys so I've been on the semi warpath since coming back to Jersey. I will say every time I'm thankful for any comments that have come so far. 

I've gone threw about 6 BP podcast with wholesellers explaining their journey and though I'm in the process of moving into my new apartment in Bloomfield, NJ I needed to do something each day to learn. I'm driving around the Newark/Bloomfield area looking for potential distressed homes to research into and contact the homeowners who seem to not live on the property. Not really scared of calling people (being an auto insurance adjuster both handling liability and total loss so comfortable having people send me to hell over the phone lol). 

Now just wanted to get some advice on identifying a distressed home? Northern NJ properties don't always look so great and are all often not spaced apart much or don't have yards. Maybe I could never tell the difference bc I was never looking for distressed homes but any advice in more urban area would be great. 

I was also wondering if wholesaling is more profitable in urban or suburban areas. Does that have any effect on cities pressuring landlords for unmaintained properties?

 Thanks @Andrew. Yes, I have been thinking of it more as hands on learning investment than working for free. I'm attending my first flippers and Funders event this Wednesday! Excited to network and learn. 

Hey @Abhi this was great. Thank you for the thoughtful video reply. Will deff look more into your page and site.

Hey guys, first and foremost very thankful for the answers in my previous post. Now I've been reading on the role a whole seller plays and felt like it was very similar to what an agent does. Wouldn't it just be better to be an agent with company resources and more lead potential than wholesaling? Or am I missing some fundamental differences?

Hey @Ben Rutkevitz Thank you. Thats alot of great info. I was deff considering the one below as I have heard it done before. Yeah the FHA Ive had issues before due to my type of profession, but has gotten better. Like mentioned before I will begin attending groups and networking to build a better understanding of the markets I'm in.

@Account Closed Thank you. I agree I need to define my goal to see where I want to learn. I am interested in flipping primarily. 

@Dashon Jones Hey glad to see you here. Yeah I've been reading into it here. Once I get situated back with read into it as much as I can and hit the ground running!

Thanks alot @Rafael Norat I use to live in Lodi too! Great idea, think would make things more focused meeting others. Yes, I am from Clifton but will be moving back to Bloomfield with a friend. Once Im back will take advantage to get into the groups and events in the area.