Anyone ever try being a property finder? - REO Property Preservation Forum
 
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post #1 of 3 (permalink) Old 07-07-2013, 11:56 PM Thread Starter
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Talking Anyone ever try being a property finder?

So recently and in the past I've been approached by investors wanting me to help them find properties and help the gain leads on deals. In return I'd get a finders fee. I was wondering I anyone here has ever done anything similar to that or have any input on it? Obviously I wouldn't quit my current lawn and pp business for it but if it can bring even $100 every once in a while it wouldn't hurt. Looking forward to your responses : )
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post #2 of 3 (permalink) Old 07-08-2013, 04:53 AM
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We had brokers doing it for us years ago. They would call us on every bank listing they had. Then we started paying for sites like realty trac to skip the brokers. Once we got our foot in the door and started doing work for Nationals or for the lender direct, we went to the front of the line. As far as fees, I had a partner once (mistake) back around 2000 and he paid between $200 and $400 depending on quality and location. We'll send a lead or two out now to contacts as a favor every once in awhile; in return we may get a rehab job down the road. I'm surprised your investors are not on the short list for the local realtors handling the foreclosures. I agree with you too, don't quit your dayjob.
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post #3 of 3 (permalink) Old 11-14-2013, 09:01 AM
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Finders Fees

Where we are located, i do 2 things. one, when we get an order for a clean-out i pass it on, but even better is the ability to look up homes and find the owners. We all keep an eye out for abandoned places, then i look up the vitals. Most of the time, i can find an owner or someone in charge of property. we make the deal, then i sell to investors. in addition, we can go in to court records and find info. we make anywhere from 500 up for a deal. much better than p&P.
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