All Forum Posts by: Ron B.

Dion thank you for the advice on how much to charge and all that. I guess I'm not too concern on 'how much' to charge at the moment. Being that this opportunity has presented itself to me, Im more concern on doing everything legit and protecting myself. I don't see myself getting a mortgage license anytime soon so thats out of the question for now.

Dion, Bill, thank you for the comments

I met up with an attorney that specializes in the field and he gave me then run down of all the possible liabilities and of course made it sound quite scary to do without legal representation.

So I have a seller (a big fish but I can't disclose the name right now), and I have a buyer, this is for a bulk deal. I am not a licensed mortgage broker. I'm a licensed RE broker....... Buyers have their own attorneys and they will do their own due diligence. I'm not advising them or counseling them on anything. Is there a LEGAL way to charge a fee for being the middle man. I have spent a lot of time making connections which is how I connected with the sellers. How can I legally charge a fee to the buyer without owing them any fiduciary duty?

Thank you Dion. I appreciate all that info as it is very helpful. I informed the seller about the interest my clients have. I gave them a range of price and they will prepare a list to present to the buyers. But I didn't discuss anything about fees. When you approach a seller as a buyer's agent, do you negotiate your fee to be paid by the seller or the buyer? These are not sellers who advertise to sell loans.

Thank you for the reply. I don't know why my post feels awkward as I'm being pretty straight forward. I have been connected to a source where I can buy notes, in my case, individual notes. This source is the owner of the notes. I have never bought a note before but I know people who have who I know I can ask for guidance. This is not a problem. I can take care of this.

My post was in regards to the fact that some people I know (Real Estate Clients) have shown interest in buying bulks as they learned about what I was working on for myself. I did not approach them trying to sell them anything but since they are interested I figure I should learn about putting deals together. I feel that this is related to my line of work so I might as well learn about it. I've read about broker claiming to have this, this, and that but thats not the case with me. The opportunity presented itself, I have the seller, and I have buyers. So Im just doing my research. I'm not trying to sell anyone on this forum anything.

Hi All.... I'm new to this forum. I'm a Real Estate Broker.

I have a few questions........ I've been connected to a direct source where I can buy notes. I know its a direct source because they actually own the notes. I really have no experience in this but I know people that do so I'm giving it a shot at buying individual notes for myself.

I had no intentions of being a "note broker" when I started looking into this but I now have a couple of clients that are interested in buying bulks of notes. Since I have the sellers and I have the buyers, in addition to buying individual notes for myself, I can also put bulk deals together for my clients. I figure there is nothing wrong in making a commission or a fee for putting these deals together.

My questions are... What is a reasonable fee or commission to charge the buyers for getting them bulk deals?. I plan on hiring an attorney in the field to oversee these transactions that I'm putting together but what's the procedure for me on collecting a fee? How would you structure it? How do you secure payment from the buyer on the day of closing? What agreements do you sign with the buyers and where can I find samples? What are my liabilities?