Help!!!!How much is "marketing consulting referral" fee
Hi guys,
I'm a newbie, never done a single deal..I met an investor in one of the REI meetings and he was looking for a lender. He told me if I could get him someone to fund his deals, he would give me a "marketing consulting referral" fee.
Now I have found a lender but I not sure how "marketing consulting referral" fee is set.
Do I ask for a %ege or is it a set figure that we both agree on? And what's fair? Plz help..
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Connecting lenders with borrowers for a fee may be considered "mortgage brokering". Be sure you're not running afoul of state laws regarding being a mortgage broker. What you call the fee is irrelevant. And the odds of getting caught may be low, if everything goes OK. But if things go sideways, the lender may start looking for someone to sue.