OfflineNewb here. I was always thought that these two basically meant the same thing. Now I've come to understand that they're totally different. Can someone explain the difference between the two?
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Difference between Finders Fee and Assignment Fee?
Posted on: Tue, 06/23/2009 - 07:47
Thanks for that piece of information.
You put this in a very understandable way. Thank you.
You explained things pretty well in a very short time to help our people and glad to have people like you when someone has a question or two. looking forward to see more of your postings in the future.
Warm regards,
Paul
Being a former vet myself 69-76 I couldn't have explained it better. In fact my first 2 deals were bird dogs of which i made $1,000 which was not bad money for a total of about 10 hours work phone calls and meets included. Keep up the good answers....Jan
I also have one more question. When assigning one deal is it possible to make a finders fee AND an assignment fee on that one deal?
Good explanation Alana. Thank you!
johnnyj87,
If you are assigning (where YOU have the deal under contract), you decide the price tag for selling the contract(the better the deal, the more you can charge, typically). So your payment for "finding" the property is already in your profit.
Likewise, if you are a good bird-dogger and find great properties for your buyers, you might be able to get a heftier finder's fee. Again, the better the deal, the more you can make.
Both are great strategies.
Rina
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In essence you're really making both when you find those really great deals; after awhile, when you come across some great deals some you'll be more incline to keep for yourself, while rest will be past along to other investors you've worked with.
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thx its pretty clear now
Really shaky Newbie here but at least I'm here.
I just read in the Florida Statutes that Finder's Fees are illegal in Florida. Can anyone from Florida tell me that Assignments are okay? My assumption is that they probably are. If so, I assume there is no special contract as long as you make the contract out with "[your name] and/or assigns" ??
Hello Rina Leroy here and wanted to know
where can I find a fee agreement form?
Could you send me a copy to me,
E:joedeals4u@****