JV with a wholesaler to connect them with a buyer from my list.

2 Replies

Hello,

Any tips on creating a Joint Venture with a wholesaler to connect them with a buyer from my lists? 

(I am in Texas, they are both in Arkansas.)

I am thinking:

1. Sign a JV agreement with the wholesaler to split the profits.

2. Connect my buyer with the wholesaler to close the sale.

What else should I be considering?

Thank you in advance for any advice & experiences folks can share

@Vernon Andrew Speller From experience on a couple jv's I would say sign a jv with the wholesalers for a certain amount of days usually (3-5 days), to sale the property. Then I would have a buyer agree to purchase the property and get a deposit and hold that deposit. Have the wholesalers send you an assignment that has provisions stating your entity is involved. Next the buyer signs it and you send it all to the title company and make sure they are aware of your presence and payout. Finally, wait to collect assignment. The main thing is you stay involved and everyone knows what is going on.