New to investing, focusing on wholesaling. I met a realtor that “might” give me off-market leads. Do I need to pay for every one or just if it turns into a deal? What’s a reasonable bird dog fee? I’m thinking $500.
Also, where can I find a sample letter to send homeowners to let them know I want to buy their house?
Thanks for any help. I appreciate all the answers I’ve read so far.
Hi,
Typically I pay for leads resulting in a transaction producing profit. You can pay flat rate or percentage but typically percentage is much more lucrative to your bird dog and flat rate is more lucrative to you.
I try to only buy properties wanted by my buyers. I will sell both wholesale to another investor or retail to an end buyer looking for a deal!
Cash is king and I don’t care if a polar bear wants a home as long as he has cash and in this case doesn’t bite I will sell it in a New York minute!
You don’t want to buy their house, you want to buy their house wholesale as you can’t make a profit buying retail houses and most sellers want retail prices. What you want is distressed property where damages, repairs, death, divorce and financial distress provide opportunity!
Good luck,
GR
GR
Thank you for taking the time to answer.
medap