Continued from page 1
A typical deal would look like this:
I get a phone call telling me about a property, motivated seller and available for at least 25% below market in order to get
deal done quickly
After listening to details and determining I can not do this one deal for whatever reason, I make some notes and go to my list.
I explain to one of other buyer/.investors on my list all of details of property and agree to share address, etc in exchange for either a finders fee (usually enough to pay my bird dog plus about 10%), or to pay original finder for me and a promise of future consideration It really is that simple. Share and receive.
I would, of course, make an effort to not share my bird dog information with other buyer (they are a hard commodity to find). Also, do not share with finder that you are passing on deal. Thank them for efforts and if it results in a purchase, pay them money.
Good will goes a long way in real estate investing.
James O’Keefe is the owner of My Millionaire Friend offering FREE articles, tips, hints, and real-world advice on how to make money with your website. Visit his site or join his FREE newsletter, by sending a blank email to mailto:newsletter@mymillionairefriend.com.
