Offlinehello everyone, happy holidays. im not sure that this is the right forum for this question but it does have to do with the awesome call dean just posted. ok, here it goes, how do you pass on a great deal to an investor or buyer without having it locked up and without giving them the address and stealing the deal from you
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In all reality you can't thats why wholesaling is the better ave.
But if your just not comfortable doing that then just use a bird dog contract with your end buyer and give them the lead. If they burn you you will know not to deal with them anymore. I think most are decent people but like anything, there are bad apples in every bunch.
good luck
Richie
Ask them for a Finders Fee agreement.
That's what we give our birddoggers who bring us leads.
Jason S.
San Diego, CA.
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Interesting, I was thinking something similar to the man that started the post because I'm a beginner and would logically start with professionals such as real estate agents so I can't implement the instant equity exchange contract directly with the seller being represented by someone else.
You would never know. Sometimes you just have to take chances. There are always a few honest ones in the bunch. However, do not let anything deter you from "going out on a limb," sometimes. With actions, results will come. All the best.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
I agree with BC completely. I lost a realtor and an investor other this issue. I had a non compete form so that the investor couldn't use my realtor and vice versa. It screamed of I don't trust you and everything fell apart. I now have investors that I tell them right at the start "I have a property I think you may be interested in. If you move on it, my fee is $3,000 or $5,000. I've quoted up to $10,000 if it is an awesome deal.
We both know that if we are good to each other and honerable there may be more deals and more money for us both in other deals.
"Faith is taking the first step even when you can't see the whole staircase."
~ Martin Luther King, Jr. (1929-1968)
www.beaconinvestorsgroup.com
Thanks willowme for your posting. I too will tell them what
my fee is up front. I will also pull out the non compete
form. I woud also tell them that it just makes good ethical
practical business sense, and that signing the non compete
form would enable us to work together in the future again,
and that the non compete form is really nothing more than
a tool to build trust between partys that have never worked
together before. just plain old good business sense.
Thanks Willowme
Paul
hi all,My name is Manolo Ruiz a.k.a manny I'm currently staying with my girlfriend in Waterbury,Connecticut we cant drive around because we don't have a car but we can always catch the bus even though that makes our searching a tad limited. we have a lead on an real estate agent. We have no money nor credit, I'm 22 yrs old, I'm almost done with the book(profit from real estate right now),I'm motivated but at the same time i have butterflies in my stomach. I have taken the first step to becoming part of the family, I'm now looking for some guidance from my more experience family members.Something is telling me that I'm really gonna make it. I'm really anxious and pumped to get started so yea guys any suggestions,advice, and examples that you guys may have in stores me?
Manny.
You're already on your way dude! While you're on your way to finishing the book, start looking online on by bus, for any 4 sale or 4 rent signs. Also, everyone you meet, let them know you're an investor. Go online and search for a realtor in your area or if you pass by re offices to and fro, stop in. A lot of info is headed your way but even a baby step is a step forward. Always use this site. The guys and gals on it are awesome!
Once the purchase offer is accepted and you have put in and or /assigns, coupled with your escape clause or clauses, this is a legal binding contract.....Jan
Yes you have to take that chance, for instance, I sent a buyer 13 properties to look at, I never heard from her again even after sending mutiple e-mails asking if we have a deal on any of the properties I sent her, going forward I am not going to exclude her from future deals, I am just going to get them under contract before I send her any info just like with my other buyers and if she wants it she will have to pay me first. live and learn.
ALso, a while back we were discussing the legality of bird dogging, I did find out that if you can get your buyer to add you to their LLC you would be working in the interest of the company you belong to making it perfectly legal. Also If you get paid when you give them the info it is ok, but if they only pay you after they buy then it becomes sticky. Got this from some veteran wholesalers.still do your due dillegence in your state.
hope this helps
Richie.
thanx man i really appreciate that i feel so pump that i feel like I'm on steroids..
Hi,
My name is John Long from Ironton, OH. I finished Dean's book and got excited about real estate investing and spoke with a title agency that will do simultaneous closing but I have to purchase the house first. I also spoke with a real estate agent who gave me about 60 properties from the MLS and about thirty of them are worth pursuing because they are around $30000. I do not know alot of investors in this area. I asked my brother-in-law to loan me money and he said he would. He said he wanted to look at the house first that I wanted to invest in. It was listed with a realtor who told me to go look at it. I took my brother-in-law with me and he made an offer with the seller for 50% of his asking price. The real estate agent called me and said that any offers need to go through her which I know that. I didn't know my brother-in-law was going to try to make an offer with the seller. My brother-in-law is now telling me that the system I am trying to use will land me in jail. I am too confident and feel Dean's system will work. Should I not deal with my brother-in-law or did he do the right thing. He does alot of investing in real estate himself.
Can a real estate agent deny and/or assigns on a purchase contract?