BP Friends, I am looking for some advice on creating a joint venture for a fix and flip with a good friend from college.

Keywords to improve reach: wholesale, wholesaling, newbie, SD, southern California, so cal, landlord, turn-key, out-of-state, cash buyers, hard money, private money, private lending, multi-family, direct mail marketing, door knocking, probate, evictions, tenants.  

It was a fixer-up and figured I could manage the process remotely....nope. 10k over budget PLUS the rent AFTER the improvements decreased $5.

However, while this would improve the cap rate since I wouldn't have to pay MIP, it would reduce my cash on cash return since I would have much more money tied up in the down payment.

Maybe 1200/mth for a 12-month lease, 1100/mth for a 2-year, or 1250/mth and an improvement budget to upgrade/replacement a few items that are outdated. 

I figure if I make improvements to my community my goal, then improvements to my finances will follow! 

(They should perform at least a quarterly inspection.)9.How do you handle capital improvements?

I have VA loan eligibility, I know they do construction loans but given the fact it's a joint project would I be able to use it here?

My wife is currently taking classes to get her RE agent license to lower some of the evaluation barriers when driving for dollars as well as easier access to MLS data.We are always looking to improve our market knowledge, we would love to hear of any advice or potential deals you might & we are willing to share all that we know as well.Let me know if you would like to chat sometime!

Hello Laura, how about partnering up or joint venture with someone that has good credit and low to no debt .That may be an option to consider