Posted by leslie on February 27, 2000 at 01:47:57:
I charge a small consulting fee to buyers to go over our lease options or seller carry plans for our available and soon to be available homes. The $49 fee gets them a little bit of education, and into my data base. Also I teach them to go look for fsbo and rentals and then call upon us to try to buy those FSBO/rentals for us to resell or lease/option to them (or someone else) if it is feasible.
On the flip side, I charge the same fee to consult with a seller and offer them a contract that I can sublease or assign to my buyers.
Does that help? I don’t know if that answers your question.
I’d love to hear about any of your programs/ideas.
Make money referring homesellers? - Posted by Robert
Posted by Robert on February 25, 2000 at 23:24:19:
Can anybody refer me to programs (and/or persons) who pay finders fees for referring homesellers interested in owner financing techniques (of course, I understand a fee would only be payed if and when a deal closes)?
I’m interested in Real Estate investing, but I want to start slowly.
The states of California and Florida require licensure as a Mortgage Broker to earn commissions as “referral fees”. Where do you live? In one of the other states?
Yes, American Note does offer a $1000 referral fee, and we do all the work, negotiating, deal structuring, etc. We will consider larger referral fees in some cases as well.
If you ARE in California or Florida, there are thousands of note brokers, which is what you would be considered, who are earning these referral fees and who are not licensed, “it is my understanding”. So you decide whether or not you personally need a license to give and earn from referrals.
Please feel free to contact our office for more information. You have a good money-making opportunity as long as you work with serious, professional people to convert that opportunity into income.
there may be licensing laws to be careful with as Mark says but how can anyone really find out, unless your income through this is significant and eveyone is reporting it - on a good deal I would be willing to give cash in NY - also you may be able to get paid through other means than calling it commission eg. construction work (just dont say you received $3000 for painting 1 small room) - maybe we can hear an experts opinion on this - i’m a speculator for about 1.5 years -
Re: Make money referring homesellers? - Posted by jexner(ca)
Posted by jexner(ca) on February 26, 2000 at 09:00:16:
Click on American Note’s banner above on the newsgroup page. They have a $1,000 lead incentive program. Contact them for more information, about licensing in your state.
Re: Make money referring homesellers? - Posted by Mark-NC
Posted by Mark-NC on February 26, 2000 at 07:53:01:
Robert,
I don’t think you can do this without crossing some type of licensing laws.
You could put together a booklet and sell it with information on how to buy a home that way, but I don’t think you will make the money that you are looking for doing this.
We came up with this idea, but have not used it. Sellers, FSBO’s, would be asked to earn money for keeping a log sheet of buyers who call them. We offer to pay a fee for this phone list if we can sell one of our homes to any of the buyers who called that seller. Of course we are only asking for the leftovers, not viable buyers for the FSBO’s own home. Please share your ideas, anything would be appreciated.