I find buyers and first time working with this Wholeseller

I find buyers and first time working with this Wholeseller

Member since 2021 · 20 posts · 8 votes

He has a contract locked up for $45,000. He said we can go 50/50 on profits. Since it’s my first time dealing with him, how do I make sure I get paid at closing? And how do I know that I’m really getting half or profits?

0Reply
20 views

4 Replies

Jump to latestLatest
  • Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes
    3y

    You would do a JV (Joint Venture) Agreement with him.

  • Member since 2021 · 20 posts · 8 votes
    3y
    Quote from @Bryant Brislin:

    You would do a JV (Joint Venture) Agreement with him.


     Hi, can you elabrotate on how that would work? This agreement should be singed by both before I start selling the property or once I find the buyer?

  • Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    Sign a JV agreement.

  • Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes
    3y

    @Jorge Leon it says that you two will split the assignment fee if you find a buyer.  It's up to you when you want to do it, but sooner than later makes sense. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.