HUGE Question would love EXPERIENCED insight!!

[Chantél Fielder]

Hi there!

I was recently started working with an investor/wholesaler that was looking to do some JV's. Things were going well in the fact that he has experience, contacts and properties that I did not. I like to work alone and find my own properties as I have a specific way of working though I can easily adjust to others as well. Here lies the question!

This investor/wholesaler says he has hundreds of properties and has also sold around 50 properties last year. He gave me a list of 19 properties he has under contract and said that we could split the assignment fee once they are sold to either of our buyers lists. I agreed and am not really looking for much out of it as I have my own properties and still do my work on the side. His list was just addresses. (Is this normal??) I inquired about this as when I list properties, I give as much info as possible knowing that it can aid in selling to the end buyer, but also because the buyer will do their own due diligence as they see fit. I created time to research his properties as he stated that he had so many that he didn't know the information about all of them and never needed to. I ONLY post ads and share list when I have at least the bare minimum of info (room#, bath#, sqft, ARV) as I feel this is courteous, professional and will not waste a buyer's time if the property doesn't have their requirements. Some of the properties were not listed with all of the information so I researched comparables to come up with additional info.

There are properties that he doesn't know if they are vacant, or can be accessed. Is this normal as well? I see this as a problem as one like myself can not give proper damage information to an interested investor if neither of us have access or have seen the interior of the property. (This is also a safety factor. Is the property a former crackden? Is is a cave for rats? Was is a meth lab that could kill us all if one of us sneezes?!! All real concerns that flashed through my head.) He mentioned he had the paperwork that would allow him to "break into" vacant properties. I do not "break into" anything! I am a newbie, but have no desire to go to the slammer! He mentioned that seasoned investors do that all the time (no need to admit here on the net, just want to make sure of the normalcy of all of this!)

I am new. But I have the utmost respect for the investors and fellow wholesalers on my buyers list and contact list and do not feel comfortable giving them lists of properties that I have no knowledge of. I just don't want to waste their time. I would love to know would is considered normal practices, even if they are not normal to me.

So my questions are:

Is is normal for wholesalers to have houses under contract but no general information to share with interested investors?

Do other wholesalers/investors generally buy properties without basic information aside of the address of the property?

Is it normal for a wholesaler/investor to carry tools in their trunk to "enter" properties that they may be interested in?

All insight and help is greatly appreciated!!