Finders fee

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Grant Bond
Member
@grant-bond
Join Date: 2005
Post Count: 1
February 18, 2005 - 7:59 am
What do you think would be a resonable fee for the following:
Firstly go to the area, source properties that meet your requirements, that is, cash-flow positive property.
Find the property, discuss the details with you, set the wheels in motion for you to pruchase the property, and liaise between yourselves and the agent, and/or the settlement solicitor etc;
Once you have decided to go ahead and purchase a property, i then propose that i could go back and interview prospective tennants. short-list them and put them in place with a twelve month lease and a direct deposit for rent into your nominated bank account.
includes, travel expenses, telephone and net corresponding, my time, advertising for tennants etc;
Kiwi-Fulla
Member
@kiwi-fulla
Join Date: 2002
Post Count: 371
February 18, 2005 - 11:19 am
Hey There,
Catch 22 really:
a. How much do you value time?
b. How much do others feel your time is worth?
c. What credibility do you have (reputation etc)
If the credibility is not quite there then you may need to adjust your fee to attract business and then as your REP goes through the heavens… (and demand increases) … so does your fee structure.
Hope this put a different light on hte subject? :o)
Cheers,
Kiwi
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Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
February 19, 2005 - 1:23 am
Are you a licenced real estate agent? If not, you may be acting illegally in your state. check first.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
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Kiwi-Fulla
Member
@kiwi-fulla
Join Date: 2002
Post Count: 371
February 19, 2005 - 3:10 pm
Depends on which legal instrument you use to secure the property…. As I understand, it is not illegal to sell a property that you own or can demonstrate that you have a financial interest in (Option or Lease Option).
However I agree With Terry here… always seek legal advice for the state/country that you live in.
Cheers,
Kiwi
Looking for Positive cashflow solutions?
Look no further
Wraps-Lease Options & JV’s
http://www.kiwilogic.biz