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Updated over 11 years ago on . Most recent reply

Steve G.'s profile image
Steve G.'s profile image
Steve G.
  • Real Estate Coach
  • from New Zealand / USA
  • Member since Oct 7, 2014

User Stats

296
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82
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Steve G.'s profile image
Steve G.'s profile image
Steve G.
  • Real Estate Coach
  • from New Zealand / USA
  • Member since Oct 7, 2014
Steve G.
  • Real Estate Coach
  • New Zealand / USA
82
Votes |
296
Posts
Wholesaling

Newbie: Correct method of paying a Wholesale "partner"

Steve G.
  • Real Estate Coach
  • New Zealand / USA
Posted

I'm probably going to need someone as my "boots on the ground" to help with some of the various tasks, as I'll be wholesaling from out of state.

My questions is: If my BOTG is not actually a "legal" partner (ie: not a part of my LLC or Corporation etc), but has their own LLC, how do I pay them and what paperwork would I need from them when I pay them a fee for their services following the successful assignment of a property (might be a 50% profit share, or just $1,000 etc)?

I'd assume that in the event I just pay them out, I'd be liable to pay their taxes?

Hope that makes sense?

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