Posted by Bill K. (AZ) on May 04, 1999 at 15:40:45:
Peter,
I have found that people seem to be really excited about making $250 to $500 for each referral that turns into a purchase for me. I haven’t found any properties this way yet since I’m still working out the details of my referral program. However, this fixed amount seems to be quite acceptable to folks I’ve talked with about “bird dogging” for me.
Bill K. (AZ)
Finder’s fees - Posted by Peter
Posted by Peter on May 04, 1999 at 15:22:26:
Hi,
I was wondering: What is a reasonable amount to pay someone for finding you a good property to buy? I’m trying to find properties for investors, but I’m not sure how much money I should ask for. Should it be a set amount of money for each property, or should it be in percentage of the price like a broker, and how much? I’d appreciate any responses.
Re: Don’t work for peanuts - Posted by Stacy (AZ)
Posted by Stacy (AZ) on May 04, 1999 at 16:10:21:
Peter
As John mentioned, assigning the deals instead of bird dogging gets you much more money. I suggest you learn how to do wholesale flips, and get yourself 10+ times the profit. It’s not hard to learn.
Don’t leave your profit to someone else. Start by reading Jackie Lange’s articles in the “how to” section of this site. There are courses that will guide you through step-by-step as well. In addition, it’s something you will use occasionally throughout your investing career.
Just my take…
Stacy
Re: Finder’s fees - Posted by John(NH)
Posted by John(NH) on May 04, 1999 at 15:51:29:
Like Bill said, a few hundred dollars for a bird-call.
However, if you got a signed contract that was a good
deal, I’d pay higher. This would be an assignment fee.
If I could assume a deal you had under contract that
would net me $20k on the backend, I’d pay $2k no problem.