Please Help :) WHOLESALE QUESTION

[Alexis Smith]

I've never done a wholesale deal before but I have been posting on Craigslist to build my buyer's list as I'm learning. Today, I got an email from someone saying that he needs help with a wholesale deal because he needs to unload a house. He said he would go JV and would give me 60% of the net profit. This is tempting because I may have a buyer however I have no clue what my next steps would be after I find a buyer. Can anyone here please offer some advice?

[Donna S. Robinson]

get him to write his offer of agreement and sign that after you insure that everything is written as expected. If you have no experience, get an attorney to review it. You must have a written agreement to protect your interests. Also, if you know where the house is, go ahead and shop it to your buyer. As a side note, my guess is that if he is willing to do this deal, he may be upside down on the numbers, which means this deal could be unworkable for an investor buyer.