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,