I am helping another investor sell some property for my cut of the profit for finding him a buyer. Here is his deal we are trying to sell below.
3/2 Single Family Home asking for $ 235,000
3/2 SFR 1,494 sqft Lot size 8,579
Built in 1925
Fix it and flip it or fix it and rent it out for $2,400
After repair value: $ 350,000
(3. party appraisal report available)
Repair cost is about $ 45,000
(Major rehab and clean up)
Is this deal good? and how much profit should I add on top of the asking price as my share for finding a buyer for this deal? I already have buyers lined up to make offers to buy.
A bird dog fee is normal $1000 to $2000.
That’s not so bad, but I figure I could get a little more. The home is selling for $235k. I was hoping I could raise it up to $240k and get $5,000 as my cut. If the buyer is willing to pay the price I raised it up to then there is no loss from either of us. The seller still gets $235,000 and I get $5,000 from that profit. The end buyer gets the house and everything is good. I am looking to do this as more of a partner rather than a bird dog taking small bird dog fees.
That is good thinking. Here is the problem if you get greeded it could be you last deal. Charge a fair price and you will have more deals then you can handle.