JV Contract and Questions

[Kaleb Ashby]

Hey BP! I was wondering if someone would be will to review a JV contract I just received. The investor is asking me to pay 350$ in earnest money on the contract is this usual? It's also a condo so should I ask to see the assignment contract? Any help would be greatly appreciated!

[Chris Seveney]

@Kaleb Ashby

Few questions:

1. Do you know the JV partner? If not have you Done a criminal and background check in them and gotten names of investors they have done business with?

2. What is the deal? This being acquired through a wholesaler?

3. What were the terms of the deal?

Never ever pay anyone anything before seeing any agreements. I thought the money may be for deposit on an offer but rereading it that is not the case.

To me this smells scam.