How to keep the investor from going over my head?

Bird Dogs, Wholesaling
1 
Here is the deal.  I found 2 houses that are going to be auctioned off by the local government in May.  I have found an investor that will split the profits 50/50 after we flip the properties.  The investor is in Cali.  Of course this deal assumes we win one or both of the auctions.  He is the money and I do the leg work.  The question is, If I tell him to much info on the properties he will be able to cut me out and go straight to the auctions himself.  Is there some kind of agreement that could be signed to prevent this.  If so, how would it be worded?  Believe it or not I had an HML go over my head on a gov't auction.......[son of unmarried parents].

Any help would be great!!!

Thanks in advance,

Rooftop

2

It’s good to be cautious but will they really want to go around you if they are in another state? They need you for the leg work. I always write my agreements out so both partners see exactly what each is responsible and then we both sign. Will it hold up in court, probably not and probably not worth the hassle. It does help make sure we are both on the same page.

3

I’m affraid he will use me for all of the leg work, get all the info he needs, come out on the auction date and snatch the property. I know if this happens with a local investor its easier to control, his rep is on the line.

It’s hard not speaking with him face to face. You get a better feel for someone when you see them in person.