OfflineHi DG Family,
I'm a new investor and have been studying and taking action every day.
I started to line up cash buyers and a few sellers.
I just met another wholesaler with years of experience, who said we could work something out when doing future deals.
My question is:
What is the best arrangement to partner with another wholesaler?
If they lock up and send me a property, and I contact my cash buyer to buy, what is the best agreement/contract/arrangement for this?
Is there a recommended form in this case?
Do I have to become a marketing consultant instead,or can I just add another wholesale agreement?
I just wanted the DG expertise before getting into more detail with the wholesaler.
Thanks for all of your help and I appreciate all of the posts I read each day.
"A Calm Sea Does Not Make A Skilled Sailor."
It's really up to you what kind of split you want to get... The most common I've seen is 50/50. For example if we find a great deal, and no one on our buyers list will take it, we offer to go 50/50 on the profits to anyone that can sell it to one of their buyers.
As for contracts, we haven't needed a contract for this yet, but I'm sure you can seek legal advice from a real estate lawyer for a custom contract. Unless of course, there's already one for this I'm unaware of.
I've also offered to people that they would get 10% of the profits if we used one of their buyers OR sellers, but they'd get 50% if we used both their buyer AND seller to make a deal happen.
Like I said, it's really up to you!
Best of luck!
Dominic
Dominic
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