What do you guys recommend as a referral fee on a wholesale deal? My good friend works for an investment company, he came across a deal that he decided wasn't for them, but he sent the seller to me. We ended up getting the house under contract for $12,000 and selling for $19,000. How much should I offer for the referral?
@Scott Kronzek I would offer $1,000. That is roughly 15% of your profit. They should be okay with that considering the alternative would have been a lead thrown away. I would not push it any higher than that. Keep your $6k and move on to the next deal.
You can buy a gift card. Amazon etc....
Always feed the hand that gives...
I am complete newbie, but related to this point.
I've found a commercial/investment property in South East England that has gone to auction due to bankruptcy of the owner. But the listing is terrible and missing a lot of relevant details and financials. I think I've been able to dig out additional info that would suggest this is much better than as it is presented.
The auction ends in a week and so much too soon for a complete newbie to find investors and take action.
Is it possible to find buyers that interested in receiving information on leads? and is it common for them to pay some referral if the deal is turns out to be genuinely good?
500 to 1k....
I forgot to add my assignment fee. But I have a contract. Do I still get the fee?
Also I'm supposed to split cost with a realtor.