I have a few cash buyers looking for properties in certain areas that I have not been able to locate properties for so far but in my research, have found some other wholesale investors online that have properties available now in those areas.
1. Would it be wise to reach out to them and see if they like to do the deal together?
2. Could I risk losing my cash buyer to this person that I don’t even know?
3. Should I draw up some type of doc for them to sign agreeing to do the deal together so I don’t get burned or is my mindset on this completely wrong?
I figure a little bit of something is better than a whole bunch of nothing!
9 times out of 10, you will lose your cash buyers to them. If it's not on the first deal, it will definitely be on the second deal. There is no real contract that will stand up in court that will be in your favor. If you could possibly structure the agreement and deal without your buyer knowing who the other whole saler is then I would say go ahead, or just do the deal with them one time. If you lose your buyer, then you know not to deal with them again.
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