On a first wholesale deal, whether to JV with an experienced wholesaler or run it alone
Take a case where a trusted contact calls about a relative's empty house, the family wants it gone without listing it, and the person fielding the call knows exactly what that kind of house needs from hands-on renovation experience but has never put a house under contract or sold a contract to anybody. A local wholesaler offering to JV, taking half in exchange for handling the contract, the title company, and the buyer, is the standard first-deal advice for a reason: half of something beats all of nothing, and the sequence gets learned by watching it happen. The other side of it is that half the fee is real money, and when the lead comes from a personal relationship on a house that person can price better than most, keeping the deal has real value too. Fumbling it alone risks earnest money and some pride, but also means learning the whole process directly rather than watching someone else run it. State rules on what an unlicensed party can and cannot do in a transaction like this need to be checked properly regardless of which path is chosen. There isn't a universally correct answer here, only a tradeoff between guaranteed learning at a discount and full ownership with more risk.
First deal with a lead you sourced yourself: what would you do?
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