Posted by Steve-Atl on June 12, 2000 at 11:05:10:
Your questions in your post are good. I’d ask them just like that.
It sounds like he is a hybrid wholesaler. He finds the deals, then finds investors to buy them. In return for the down payment and closing, he probably wants a partnership and a portion of the profit. Just speculating, but if that’s the case, it does not seem to be an unreasonable approach assuming the arrangement works for both of you.