Splitting Fees when JV Wholesaling

[Michael O'Connor]

Hi,

I have a contract that I'm trying to sell right now and was approached by someone that offered to JV the deal with me. As I'm new, I'm inclined to join forces with this guy -- he seems like he's done a lot of deals and has a lot of experience.

I understand that if he brings me a buyer for my contract, I will pay him a fee in accordance with our agreement. However, do I still pay him if I find a buyer on my own? I want to make sure I understand how the process works once I enter into an agreement with someone in a case like this. 

Any help would be appreciated - thanks!

Michael