​How to Convince a Bird Dog He's Not a Lead Investor

[Steven Aponte]

Hello all. I have a coworker whose friend has a lead on two 10+ unit NYC buildings being sold by the city at a dramatic discount. A discount so low, it doesn't even cover the paperwork that it will require. Of course, the property needs a gut renovation. But this is still an amazing opportunity.

This coworker - "Bob", doesn't have much to contribute to the deal other than the introduction to his friend with the lead. I have financing lined up. I have a GC relationship, project managers, expediters, etc. Basically, I have most things I'd need for the deal to be successful. Not all, of course. I fully expect to trip up a bit along the way. This would be my first endeavor, but I know enough people in the space to make this happen.

Except Bob's friend with the building details. And Bob fancies himself my partner and doesn't want to release the info until he understands what his long term role will be. I don't see one, but I do think he should get something. Any thoughts on how to navigate this one? 

Thx!