JVP Asking For Copt of Contract?

3 Replies

I had an Investor, from Georgia, reach out to me on Facebook about bringing her in on as JVP on a property I have under contract, in Mississippi. Then almost instantly she ask for a copy of the contract and a picture of my photo ID. Is this normal? I have never encountered this scenario before.

@Brandon Malbrough

Hey Brandon, it's probably fair that you due a full due diligence on your partner and have a JV agreement negotiated and signed before releasing a copy of the contract. If you do provide a copy of the contract, it would probably be wise to get a non-compete and a non disclosure agreement signed by the 'potential partner' before you do.

Either way, based on your description, it sounds like a phishy request - I would take any solicitation via FB with a huge grain of salt.

Good luck!

Well, if you were going to JV in a property wouldn’t You want to see the contract you are going be assuming together?
Wouldn’t You want to verify the identity of your proposed partner?
While they Could be fishing for something, if you have the property under contract then you should be protected.

Anyone trying to go around you doesn’t need to see the contract, just the property address.

Agreed, there are a bunch of time wasters and scammers on Facebook, LinkedIn, etc.

Josh & Wayne,

Thanks for the feed back! It just through up a red flag when she expressed she’s only been wholesaling since June and is from Georgia. Granted, I definitely don’t want to be tied up with someone that’s going to waste my time. I’ll purchase the property and fix n flip it before I do that. Which I’m heavily debating on.

Brandon Malbrough