BiggerPockets

I asked this on another forum more geared to RE professionals, but figured I'd throw it here too.. I'm an agent in Southern California where investment opportunities have really dried up. If I had a nickel for everybody that came to me asking for a local investment so long as it "made sense", I'd retire. I have a few referral relationships set up for agents outside of Cali where I've referred people to buy multi-units. But I was curious if anyone has seen any sort of out of state referral fee or broker coop dealing with preconstruction? I'm looking to pass investor clients willing to go out of state on to developers.

Sounds good, I took down your number. As I know a couple of other agents perusing this board, rather than have me forward things to everybody, can you post how you work up a fee? If not, feel free to shoot me a message.

Jeremyquinn I liked your website. I do loans and work with several clients that buy preconstruction. If I pass them on as referrals with most developers could I do the loan for them? I noticed many require them to use the developers lender. Thanks :lol: Nina

You see this with new construction at any stage; sometimes the builder will establish a relationship with one lender or more, either to speed financing, make sure buyers are properly qualified, or as another avenue for making a buck off the deal. You'll hear ads for cars all the time where they say "special incentive only available through GMAC financing". Well, this is the same thing, and sometime there is a genuine incentive for using the inhouse lender, although if you do start doing this kind of investing, you WILL want to establish a relationship with a lender of your own, and have them see if they can give you the same or a better deal.

Hi, my company specializes in Residential|Commercial|New Construction|Condo Conversions with loans for Primary, Second Homes or Investors. I have access to 100's of lenders, many with 100% financing. I also have access to Commercial Lenders up to 90% financing many with Stated Income programs. Call me with any scenario's. I'll be happy to chat with you.

Paul Khin

The east coast of FL ( Miami,Ft.Laud,Boca,W.Palm) was probably the first to take off around 2002, the west coast started moving a year or two later. Prices are down 20% to 25% from their 2005 high's. I'm guessing prices peaked here in South Fl between the 3rd and 4th quarter of 2005. Prices were bound to come down from their peaks, we were seeing annual appreciation rates of well over 25% to 30% year over year for 3 almost 4 years.

I'm not that familiar with the Atlanta/Savannah market but many Floridians have cashed out and are looking toward GA,TN,NC,SC,etc.

One of the problems I saw was that the median home price went to about $425k in Palm Beach county and probably to about $ 330k in Lee County which priced all but the affluent buyer out the market.

I would agree with this statement here(Orlando). Well not entirely, the condo market here got over saturated really quick. I think we led the nation in condo conversions last year. The single family home market is still going fairly well. There was a report released today that showed the investment returns this year are still exceeding last year. Oh ya, I pay referrals as well. Its easy to do over state lines, I have referral agreements all over the world.

If you are still in the market, then please contact me. I have a group that pays pretty well for referrals. The average referral is between 8-12k for not doing a whole lot of work.

I also pay referrals upon closings as well (a fixed $2000) and have current opportunities in Panama City with upcoming opportunities in Las Vegas and in Arizona. Big cash back in most cases at closing that cover down payment, closing costs, and several years worth of mortgage and HOA.

Dave