Hello Everyone. I have a question that I am sure not many of you have dealt with but want to do the right thing for my business and my personal morals. I am in the rehab fix and flip business and when selling one of my homes, an elderly gentleman called me on it. We got to talking and turns out he has been in real estate for about 50 years and to make a long story short, I have taken him on as a mentor. He recently found a home that he put under contract and called me and ended up assigning the home contract to me for nothing. I rehabed the home in three weeks and sold it in a week and when it closes in a couple of weeks, will be making a net profit of almost $30,000. I have told him this and want to give him something and he says not to worry about it and doesn't want anything. Well that isn't the way that I operate and will give him something. Any suggestions? I have been struggling with this and would like to know what others would do in my situation. Thanks
You making $30K profit giving him $10K.
Give him at least 5-10k.....30k net is not bad for 4 weeks work.
Take him on a helluva fishing trip. Private plane to Costa Rica, marlin fishing, etc.
Rick, that is a fantastic idea!!!!!!! This guy is a muti-millionaire so doesn't need the money but a great guy that wouldn't do something like this for himself so you have given me a fantastic suggestion. I am a commercial pilot so could actually fly us down there and catch some big fish.
You don't want to damage the relationship, it is awesome that you guys have that kind of relationship.
Cut him a check for at least 10% of your profit. $3000!
Fish on! Have fun. Sounds like he's a great guy and you've made a good friend.
@Jerry Rodgers ...Definitely a thank you card with $3K-$5K...A great way to show him that bringing great deals can be a mutual benefit!!!
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