OfflineCould anyone tell me or link me to a site if my question is already answered. What should I do to make sure the investors will not circumvent me and work directly with the seller? The investor wants to check out the house before making decisions. Doing so enables him/her to know the property's address. What agreement should I write in this case-- not joint venture or assignment contract right? Thank you very much, DG family!
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Quyen,
You are asking a very valid question. Been there done that. In order for me to answer correctly and to help you, I need more specific info. Please PM me at my account, and fill me in on some more details on what it is you are trying to accomplish with this investor.
What is your relationship with the investor? Are they an equity partner or a debt partner? Do you have any agreement on how the investment relationship will work other than verbal? How well do you know the person you are dealing with? Are they credible and ethical? Believe me this business is riddled with scum bags. It sounds like this might be a private money source you're dealing with here. If so, I always construct a Partnership Joint Venture Aggrement in these situations, before I even locate the property---yes even with my sister. It will help to define and form the partnership for that specific purpose. In addition it will provide some control and scope over your relationship in that it will contain agreed to activities as well as a decision making protocol. It dosen't sound like this currently is the case. What I'm trying to tell you is get these issues straightened out before you waste your time finding properties, because the agreement, if structured properly will hold both parties interest properly intact. You are wise to ask this question, for that I commend you.
PM me, and I'll help you further and assist you with the proper forms.
Hope this helps.
southstar
KNOWLEDGE FUELED BY EMOTION EQUALS ACTION, BUT IT IS ACTION THAT ENSURES RESULTS.