Referal Fees - Posted by Reif

Posted by Reif on March 20, 1999 at 17:13:06:


I’m just about through your 5 day video course that I bought at the convention.


If I can find some notes, I know I can make a good go at this.

Along that line, there is an ad in the paper for a pension fund that is buying notes.

I have not called yet, because I know I only have one shot at a first impression.

I figure there may be some notes (like you talk about) that these guys may get called on that they would not do more than receive the phone call and toss in the trash (100% LTV, for example) - yet using your techniques I might be able to work a significant profit.

I figure I would first ask him (them?) if they accept brokered notes, what’s their criteria etc.

Then I would ask if they refer notes that they can’t use (I of course only want the ones they haven’t done any work on - don’t think I need the ones they found incurable title problems - do I?)

In keeping with the idea of not naming a number first, I would ask what they charge for a referral. What do you think is proper (I know everything is negotiable, but I don’t want to come off like a total amateur - even though I am a total amateur).

Would this referral be paid on every name (doesn’t seem like a good idea) or just on notes I close?

Thanks for the great course.