To JV or Finders Fee..that is the question

2 Replies

Hi guys! Been quite a while since I have been on here, life took a walk about. Anyhow, I started advertising again and seeking deals and I had a wholesaler contact me with a property he needed to sell. He offered a finders fee is I found a buyer, however I thought a JV would be more appropriate or splitting the profit down the middle. I will take what I can get at this point, I just feel like I do not want to set a low standard with this guy and/or leave money on the table if I go through the effort of reaching out to buyers on my end. So what is appropriate here....the deal is in Bridgeport Texas if that makes a difference. Thanks y*all...look forward to your answers

Welcome back. So is it a deal or not? I haven't wholesaled before although I should probably start but I would be leery of a wholesaler contacting me to find a buyer for his property. In our market (at least in Austin) buyers are a dime a dozen it's the deals that are tricky. If it looks like it might be a fit for someone on your list I would probably take the finders fee. If you think it's too good to pass up you could have him assign the contract to you and wholesale it yourself.

I agree with Tamara if you can make it work for you then take the property down. If your more comfortable then get a decent finders fee. You are doing 1/2 the work here connecting buyer and seller. Keep info on all people you contact and start building a buyers list for future deals.

To your success,

REI Nation
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