Upset bidder contacted me

[Ellie Kang]

Hi everyone

My first post here. I'm a new investor and I recently placed an upset bid on one of the foreclosure houses. My bid was upset afterwards and I was contacted by my competitor so we don't keep upsetting each other and drive the price up--- shrink our margin and benefit the county. He offered to let me buy one of the houses he's developing cheaper(He didn't go in detail about that.) Or we go in this deal together and split the profit. Also didn't specify how this would go down either. I guess he assumed that I'm not a newbie but I have no idea how this is supposed to work. Anyone has run into this kind of problems/deals before? Any suggestions/advice on how to solve this kind of situation? Please let me know.

Thank you

[Matt K.]

Um....

http://www.latimes.com/local/lanow/la-me-ln-bid-ri...

lol