Here’s what I have going on. I have an investor that is unloading her rental properties at wholesale prices. I have two buyers so far that are insterested. I am getting a list from my investor to present to the buyers. One buyer is from Scotland. He is looking to get some of these houses under contract to market to investors over there. I’m not sure my investor (seller) will go for that or not. My other buyer is a cash buyer.
How do I structure these deals to ensure I get paid? I would like to make $500 per deal, and I think there may be a chance to broker quite a few of these deals.
Could you possibly negotiate a contract with the seller to be paid a finders fee or something upon sale?
That’s where I was unclear Stevie… Should I negotiate a deal with the seller or the buyer? I have read about bird dogging and how they sell leads, so I have leads and buyers…
I flip houses man, I’m new to all this birddogging wholesaling stuff!! 
Are you able to open escrow? If you can, try to add your fee to the HUD-1.
I couldn’t tell you either…I’m not real experienced when it comes to birddogging…I would think that it would be easier to negotiate with the seller. You could possibly come up with a contract that states that anything over x number of dollars that you get a client to pay is yours…or you could basically just ask for $500 per property.
Thanks for the replies. Here’s what I have decided to do. I am negotiating with the seller of the rentals a price she will pay me to bring her the buyer. I will get everything in writing and signed. I am also doing the same thing with the buyers, negotiating a fee for me bringing them deals. This game is fun!
I’ve got a similar one I’m working on now. Seller is asking 25k. House needs 4k in carpet and paint. I’ve got a buyer who will probably buy for around 35k; I’ll get the price down to maybe 23k and pocket the difference minus closing costs.
It’s fun putting the 2 peices together and making $$ with no risk on my part. Not my credit or capital…
Yeah, it is fun! Here’s the crazy thing about this deal… the seller has multiple properties. Not sure if I can do it as a package or if it would be more profitable to them one by one…
Whatever is easiest and puts the most in your pocket…
Make sure your seller is happy with the deal. Try and build a strong relationship. If he has multiple properties, in his circle of friends, there might be others in a similar position. You could get some profitable referrals out of this. But the seller has to trust you.
Good luck.
$500.00 why rip yourself off. Instead have the seller sign a lease option with you at whatever price they are offering the home for sale at. Tell the seller that the only way they need to pull the home off the market or at least stop marketing it themselves is if you choose to exercise your option, meaning that you get the home under contract with someone else.
Once you have the home under option with the seller then market the deal to your buyers and pull out as much money as possilble while still making it a great deal for your buyers.
Prior to closing give your P/A and your option contract to the title company so that they can correctly distribute the funds.
I have used this method to turn your $500.00 fee into a $14,000 fee.
Maybe someone can chime in on mine to tell me if this is the easiest way to do the one I am handling…
Seller is a Corporation out of Texas - they are buying these houses directly from the mortgage companies, so I don’t think they will want to lease option it to me.
Buyer will be the homeowner, not another investor.
Asking price - $25k (will try to work down a little)
My buyer is willing to pay $35k
Can I do a double close and use my buyers funds to close my end and I pocket the difference? Or would another route be better?
Thanks Eric and Patrick and Stevie… the deal is now dead. My seller doesn’t want to deal with out of state buyers… not sure exactly why but hey, I leanred something new! Thanks for the input!
Sorry to hear it man. Hey, I’m working with a guy now who has some homes he is marketing in FtWayne - they look like rehabs and then good properties to rent… PM me and I’ll give you the website info and my login.