Ever read “The Art of Deal” by Donald Trump? One of most fascinating things I have ever found about real estate investing is found in fact that you do not need to be buyer or seller to make money. How, you might ask?
There have been times in my life that people I have “looking out for a good deal for me” are too productive, they find something really attractive, a motivated seller or whatever, but I just can not get deal done. Maybe I am involved in too many at that time, maybe I just don’t want to touch a deal of that size, whatever.
But I do not want to pass up a chance at some extra cash, so what can I do? Easy, I look to my list for another buyer/investor. If you want to make money, you need to develop a list of like minded people over time.
By checking my list I can usually pass deal along and pocket a finders fee (helps me to pay my bird dog for finding property), or, if they are really good friends, pass it along for future considerations, knowing they will return favor.