Posted by Heather -Tx on September 07, 2003 at 13:25:41:
I haven’t done the L/O before, but I am of the same frame of mind as you… because even though I am doing rehabs (only a couple so far) Those people that have worked on mine, and also the new buyers have sent family members my way with possible other deals because they liked the way I worked.
If the seller has a family member or friend in the same position… they would be more than happy to send someone your way if you preformed on your promise, and if you went “above and beyond” what you promised, I’m sure they would tell this also to the people they sent your way. It’s really not a “wrong or right” It’s a question of how you yourself want others to see you. They will see you good either way more than likely… but letting off on that payment that someone else was already making ?? You’d be on a pedastal.
Like I said… I’m new myself… only a couple rehabs and no L/O. But I like that my workers and buyers are sending their friends and family my way because they see my ethics in my investing.
Hope this Helps,
PS If this was a marginal deal, I will add, I would say keep the payment, but if you are making a good amount in it, why not do what makes not only you feel good, but your buyers and sellers also. You have to make your profit… but you don’t have to get rich in one deal.