Consultant Agreement - Posted by Doug

Posted by Doug on April 21, 2007 at 10:29:49:

I really appreciate the advice, the last thing I want are “legal troubles”. He suggested it’d be okay to pay me a referral fee. “birddogging”… I’ll accept this, since I’m getting alot of response from my advertisement, it’s better to make some cash then “none at all”. Any thoughts? Thanks.

Consultant Agreement - Posted by Doug

Posted by Doug on April 18, 2007 at 19:10:47:

Hi ya’ll out there in investor-land, I couldn’t find the answer for this in the how-to articles, so here it is.
I’ve had lots of people calling me from my flyers or cards I leave in doors or car windows.(sound desperate don’t I). Many have been folk(elderly) or working single mothers with alittle moneys saved($50-70k) looking for smaller home in another quiet neigborhood, usually because the one their living in has gotten expensive. I use to refer these to agents, I’ve come to know in the business. Here’s the thing, no one pays after I give the name and number. But when I follow up later each person as thanked me for referring them and tell how they love their new home. Look, I’m 2.5 years new at this, and currently I only wholesale, I haven’t done consultant agreement contract because I thought it would put me in another status, and also because I’m not a real estate agent. I’m I wrong about this. I’m not greedy, it just looks like I letting monies slip pass me. I lady called me 2 days ago, she wants a house in certain area for certain price, I know an investor/rehabber who has homes in area(we do business) and they fit her payment amount. How do I do this, is it okay to do consult agree… I would appreciate any assistance you can provide. God bless and thanks

Re: Consultant Agreement - Posted by lukeNC

Posted by lukeNC on April 19, 2007 at 08:02:09:

short answer:
Don’t do it without a license.

Yes it appears the money is “slipping by”, let it slip. There are other ways to make money in RE, and easier ways.

Re: Consultant Agreement - Posted by Rich_in_CT

Posted by Rich_in_CT on April 20, 2007 at 15:29:21:

Why not get the house from the rehabber at a bargain price and doubleclose with the end buyer? Or why don’t you use a straight option and option release? There are plenty of ways to do this legally.

Disclaimer: I am not a lawyer nor do I play one on TV. Please consult someone that’s passed the bar before using any of the mentioned techniques. Have him/her checkout your contracts before proceeding.