Updated over 6 years ago on . Most recent reply
Finders fee vs wholesaling?
Ok I am thinking about going this route. I have closed 4 deals wholesaling and I have a good feel for he market in Los Angeles I gave not closed one deal in the last two months. Soo much competition I need to change things up. Instead of getting lucky and doing the standard wholesale route my new plan is to find a property that’s only 10 to 20 percent below market value instead of 20 to 35 percent ( because those are soo hard to find). Line up a buyer that doesn’t necessarily have to be a cash buyer, conventional would work. Tell the buyer and seller to close on the agreed upon amount. When things are done the buyer cuts me a finders fee check? This would be geared to investors that get discounted properties that they want to hold on to and not necessarily flip that do t want to pay a realtors fee and fight off the crowds when the agent lists them. And no I am not an agent. So my questions are is it legal, does it make sense and isn’t there any one doing this now? I am tired of getting outbid this way I will still make checks just not as much and then when I do find a Goodnite deal I can wholesale it or buy it myself? And advise or suggestions would help. Thanks!!