Howdy all,
I’m after any information on experience you’ve had with Finders Fees, i.e. finding a property with good potential and introducing someone else to it for a fee.
How much was charged (% or dollar figure), were detailed financials on the property supplied, were there any contracts associated with the find and potential purchase (not normal property purchasing contracts), etc…?
Any input is appreciated, as I seem to be coming across the odd property that’s cashflow positive but a bit out of my league, just starting out ‘n all. So I may be able to post a few opportunities up here for you guys.
Cheers,
MarkMark
Concept sounds good but just make sure depending on which State you are in you have the correct license to do so.
You would hate to fall fowl of the Office of Fair Trading just for a few dollars.
Cheers Richard
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http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
Yeah that’s a good point, never thought of that.
I’ve seen people mention the concept on these boards, just wondered if there was any formal process.I think as long as it’s all above board and as per the guidelines of whatever regulations govern property sales, then it should be ok. I suppose I’d be kind of like a buyers agent (for when I couldn’t finance the property myself).
I’ll look into it, cheers.
sorry to harp on back to richmastery, but they do use spotters nationwide, and maybe that’s one place where you could pass your deals on. i mean become one of their spotters. i’m not sure what cut they give the spotter but it might be worth finding out.
richmastery.com.au
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