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Updated over 9 years ago on . Most recent reply

User Stats

13
Posts
5
Votes
L'Oreal Smith
  • Wholesaler
  • Dallas, TX
5
Votes |
13
Posts

Contract questions

L'Oreal Smith
  • Wholesaler
  • Dallas, TX
Posted

Hello fellow BP members!!

I have recently (within the last 30 days) decided that I would do some whole sale deals (Dallas, TX) to build up my cash flow and at the beginning of next year start flipping. So I have been working with an investor and he has really been helpful in getting me started with whole saling and we plan on doing some deals together. So my question is: Should I have him sign something stating that he will pay me the fee that I have set in place as the finders fee? I don't want to spend countless hours doing work only to have him not pay me once  I find a property and he buys it? I have already avoided my first scam with a private money lender ( who was referred to me from someone on BP) so I want to cover all my basis. What other contracts should I have signed with my investors if any? Thanks for your help and feedback!! 

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