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.
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
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.