I have contract, wholesaler has buyer, what to do

[Sterling Satterfield]

I have a property under contract. Originally, I planned to flip it myself for my first flip. However, I did reach out to a random wholesaler that I receive emails from on a regular basis, who is local just to see what he could sell if for wholesale Incase I run out of time to do the flip myself. He gave me the figures, and said we would split the profits 50/50.... this seems somewhat high to me, being that I usually sell houses for 6% commission on the market as a realtor. 

My question is, when doing something like this, do wholesalers generally split it 50/50 in profits, or what is the standard split or commission? 

He seems extremely trust worthy and honest, and seems to want to help me learn this side of real estate (my expertise are on market real estate transactions)...  that said, I’ve been burned by many super nice guys who seem to want to help me, and since I’m new to the wholesale side, I’d love some reassurance the 50/50 split is normal, or warn me to go back and renegotiate the profits if I go the wholesale route. 

[Jerryll Noorden]

Hell with 50-50.

You know what the hardest part of REI is?

Getting the contract signed.

You know what the most valuable part of REI is?

Getting the contract signed.

You know what it takes to be successful at REI?

Getting the contract signed.

You offer him 20%. If he says no, you say buhbye

50-50, get the frog out of here!