Spotters?

Viewing 4 posts - 1 through 4 (of 4 total)

waydo77
Participant
@waydo77
Join Date: 2011
Post Count: 155
September 11, 2014 - 3:14 pm
Hi every1!
Just wondering if anyone can give any insight into the world of deal spotters?
Once they find a deal how do they secure it and onsell it so to speak?
How do they calculate how much they sell the deal for (their fee)?
Is anyone out there making money from selling deals? e.g deals with development potential or high yield etc?
thanks
Corey Batt
Participant
@cjaysa
Join Date: 2012
Post Count: 1,010
September 12, 2014 - 4:31 pm
Development wise I know a few guys who place development sites under option, get DA approval and then onsell the site for a profit.
Financed a deal recently for a client who purchased off a party who onsold a contract from a company who puts contracts on properties about to be repossessed.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
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Investment Focused Finance Strategist - servicing Australia-wide
Kellie
Participant
@kellieajay
Join Date: 2014
Post Count: 6
October 7, 2014 - 10:41 am
I am also confused as to how the spotting process works (as a potential buyer)!
BuyersAgent
Participant
@knightm
Join Date: 2005
Post Count: 338
October 9, 2014 - 12:26 am
Finding any real estate – placing it under option and on selling is a viable strategy. The problem is that it only seems to work in practice with larger blocks or dev sites. Mums and dads who are ready to sell their homes now are suspicious of options. Options fees and terms are highly variable. It all depends on the deal.
Just trying to charge “spotters” fees is illegal unless you are a buyers agent as far as I am aware.
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- This reply was modified 10 years, 1 month ago by BuyersAgent.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au