found buyer, found REO Agent, now what?

[Ruben Aguirre]

So I am still hunting for deals. I didn't get into one that I had been working on for a few weeks which was a bummer, but the numbers were too close and although anxious for my first deal, I want to make the first one a profitable one, even if only a small profit.

Thanks to BiggerPockets for their Bank REO Listings section. I found a realtor by following links through there and now have more serious potential buys. Unfortunately, they are a bit out of my range, but fortunately, I found an out of town investor (California) who agreed to buy deals from me if I found 15-30K in equity for him. He in turn has ready 3 year lease options with officers stationed in Ft Bliss that prefer not to live on base.

There are two properties that perfectly fit what he asked for. They are in the area of town in which he now owns three properties. Unfortunately for him, he has been buying at full retail and counting on appreciation and some + cashflow from his 3yr lease-options, so when I told him I could get him below market value, he jumped at the opportunity.

So now my questions are:

How do I negotiate with the REO agent so that he takes me seriously and how do I bring in my investor without getting circumvented?

Should I find a hard money lender, tie up the property with enough equity for the investor and a piece for me, and then resell it to him.

Should I use his financials to tie the property and let him close on it but somehow keep myself in the deal?

How can I structure it so that the investor doesn't go around me and directly to this REO agent? I've read a few posts in the REO forum, and I am scratching my head since I hardly have any money and may not qualify for the loans needed on these houses.

Thanks for taking a look at this and posting replies.