Co-Wholesaling ediqutte

[Aishah Amina]

I am looking to close my FIRST wholesale deal! I decided to co-wholesale simply because I need a mentor through the process. We verbally agreed that we would split the profits. The seller signed the contract in which my name and not the co-wholesaler is listed. When a check is made out for payment, am I correct to assume that it HAS to be in my name? Or should I have a contract stating the profit agreement between the co-wholesaler and I? Thanks.