Raleigh, NC · Member since 2017 · 80 posts · 25 votes
Hi My new BP Family. Loving this site. Question:
I am a newbie ( a highly motivated, so excited, cant sleep, ready to work newbie). I went driving for dollars and found 5 potential amazing property leads. I have all the stats, figures and contact info for owners.
Now, I have given this information to a more experienced investor in my area.
If any leads are good and I want to co-wholesale what should I expect from here.
Do I let the more experienced investor call the owners? Do I work the deal or do they? Does the deal close in my name or theirs? I guess I am wondering how most of these partnerships work for a fresh beginner.
Thanks for reading the jumbled string of questions LOL.
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
9y
If you've given all the info to another investor, you are at the mercy of their good will. Hopefully they treat you right. They are in the drivers seat so I would look to what they would offer you.
Going forward, I would maintain control of the information and make an agreement up-front, before handing off.
Even better, once you move up the learning curve, get the deal under contract yourself. Then you have something you can make money on and have complete control.