Starting My Company

6 Replies

Hi,

I had an idea that I wanted to run across you guys.

I want to get as many deals as possible. I have several friends that want to work with me.

This gave me an idea.

I told my 5 friends that I would give them a flat bird dog fee for every deal that they brought to me . By deal , i mean homes put under contract and sold to an end buyer. After closing and I'm paid, they are paid the referral fee.

Then I thought, Why not take it a step further ?

Here is what I would like to do. I'd like to charge a Gold Membership fee or call it something else. By paying this fee you will get training on how to prospect and bring me deals and when the deal is done , instead of paying a flat referral fee, they will get 50 % of whatever profit is made.

Am I on to something here or do i need to scrap the whole idea. 

I'm all about getting the most that I can and this was my idea.

What do you think ?

Thanks guys, I'm loving this site !!!!

Sean

@Sean Williams

Not trying  to shoot down your idea, but I would never pay a monthly or one time fee bring anyone a deal. And also would not pay for training, not when we have access  to biggerpockets. In my opinion you should lead people here and if they have the will power to learn and follow through then build partnerships with those people. This sounds like a guru plan to me. But this is just my opinion. 

Best of luck!

Just an idea...thanks for the insight

Just trying to see what others are doing across the country

Hopefully you have an extensive real estate background with a proven track record of wholesaling.   If you don't, I don't see anybody giving you any money to train them.   Just give them some money when they bring you a deal 

thanks..that's the route I'm going to take..I just had the idea of letting them get half of the profits but didn't think it should be for free.....

I don't think it is a bad idea. If you sweeten the deal, you will have people racing to get you deals. Just my 2cents.

that was my line of thought from the beginning...but I felt that they shouldn't be getting half unless they paid  something ...not a lot but enough for me to purchase more signs and marketing materials for them and invest back into my company. And buy more ads

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