HI guys So I'm a newbie at JV wholesaling. Im currently in the Central,NJ market.
Here's the scenario: I text an investor who put ad up on CL that fits my buyers criteria.
ME:. I ask him if i can JV on the deal if i bring a buyer to the table.
He : I'm JV on this deal. Get your buyer to hit you with a referral fee for we can both make money on the deal.
My question is. Can i hit my own buyer for a referral fee? and if so , what contract do i use let alone convince him of such a thing.
@Derek Arcila You should know that the seller is most likely itching to get rid of the property as well (assuming he's posting to craigslist.) Yes you can utilize a 'finders fee' with your own buyer, however; I would push the craigslist guy for a fee as well.
Since every party is a non-licensed investor, as @Nick Britton mentioned it is a smart idea to place a fee on the craigslist buyer. After all, without you, he would have not found such a good deal. Negotiate with yourself a firm price on this fee.
All of you are running a very thin line of legality right now...
Thanks guys! Appreciate it.
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