OfflineHi everyone,
I finally got a lead on my first deal. Iam charging a finders fee for finding a home for an investor, so I can avoid the contracts until I get me first deal completed. How can I be sure that when I tell the investor about the home an were its located & price that they will pay me my finders fee? I dont see why the investor can't just go straight to the owner & purchase the home over me. Please give me any advice you may have. Thanks
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When you use the method of charging a finders fee you still need to use a contract to lock up the property. When you lock up the property you have control over this property for the agreed amount of time so the investor cant just you your information and contact the buyer, they have to go through you. You also pay the home owner a agreed amount of money to let you have control of the property for however amount of time you guys agreed upon but there are ways around this where you can actually have the investor pay this money if done right. I haven't done any deals myself but this is the method i'm in the process of using so my knowledge is from reading and not personal experience. So good luck and if it goes through maybe you could give me some advice.
No Grind No Shine
Thanks for the great advice, I think I understand what you mean. But I next question whould be, when do I get paid? & how?.
There are several others out there that have been in your same situation, and knowledgeable/experienced people have given their input. Review these posts, and see if this answers your questions. Assignments are a great way to get started!
-Josh
http://www.deangraziosi.com/node/3355
Thanks, It did answer some of my questions but not all. I did see a post about a refferal contract, this sounds like to me what I am looking for to get my finders fee. Does anyone know more about this contract? Thanks.