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Updated almost 10 years ago on . Most recent reply

Account Closed
  • Investor
  • Denver, CO
0
Votes |
5
Posts

Should I move forward

Account Closed
  • Investor
  • Denver, CO
Posted

I recently found a property that was a great deal but I am not sure how to proceed. I was contacted by a wholesaler who was helping out a family friend to sale there home. He was out of state and I'm not sure how accurate his information was. His sale price of the home was low. Here are the numbers. 395K Purchase, 50K Rehab, 600K ARV, the spread would likely be 120K. I knew my investor would jump all over this home. I viewed the property with my contractor and everything checked out. However, he wanted 10K earnest money. For whatever reason I did not feel comfortable moving forward and passed the property to my investor. She is now under contract and has agreed to pay me 15K consulting fee. Although I did not negotiate the deal am I legally allowed to collect a consultant fee? If so, how should I structure the verbiage on my invoice? Thanks

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