Whats a fair thing to pay family/friend to spot deals for u. I was thinking 2% of purchase price plus expenses?
watchful
Sounds like a generous offer to me !!
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“Don’t be afraid to take a big step if one is indicated.
You can’t cross a chasm in two small jumps”. — David Lloyd George.
=========================I think minimogul charges $1500 flat rate for the bird dogging efforts.
2% is extremely generous. I might look out for some for you myself.
Hey Watchful,
How many properties would you like.Lets see
2% + 2% + 2% + 2% gee I could retire in no time.
But I guess 2% aint bad compared to some.One particular mob charges 10%.
Russ.[king]That was for family/friend. Sounds like I need to stem my generousity a bit for you lot
watchful
Also I was thinking that that would include the due diligence process being performed as well
watchful
Hmm doing it for family you end up doing more than just sourcing. I know just got one for sister and one for brother in law last week. It is hard work. I suggest you get one of us that do sourcing to help your family so you can stay out of the politics of family vs profit hunting for yourself.
Try $1000 without searches, you do that, and its going to be $1500 in line with Minimogul from July. Sounds good to me.
DD
Don’t sweat the small stuff,and it’s all small stuff!!
I would actually use DD as a bird-dog myself for my own purchasing!! And am planning to do it later in the year. He is a legendary investor and I did my own due diligence on the research he has done (another bird dog with money where his mouth is, like me!!) – and although he does it in a different style to me he’s very very worth it and an expert in his area, Queensland.
we do it in a different way to DD though, because we already have the contract signed up – the deal is therefore certain. So we also have to have an assignment document prepared. Also the property is inspected, photographed and with a written description, before it’s sent out ‘on spec’. and our fee includes title search which has to be done within 5 days. Also because it’s an overseas purchase most investors usually need some kind of help and assistance.
cheers-
MiniPS As far as family and friends go, I don’t charge them at all!
joy to the worldI’ve met DD as well, seems straight up and very very motivated for clients. When I get enough of NZ, I will be seeing DD for QLD buys
I don’t charge my family or friends either!!
joy back Mini!!!
CastleDreamer
i agree henry. let’s say the actual bird-dogging costs $1500 then they are marking up builder’s report and LIM which together cost say $500 max, at least 400 percent.
I guess there has to be something there in case they spend upfront on due diligence and don’t take the deal, but really their clients are being charged this few hundred percent markup for a builder’s report that might not even be independent – could have been done by the bird dog’s cousin who’s a builder, or whatever
joy to the world
Hi all
Have read your comments but dont quite understand the process can any body tell if they know of anybody sptotting in W.A. so I can find out whats involved. eg: how much? what you get & how to go about it
Post or P.M will be fine
Regards
Boardy
Boardy, I have 2 orperties south of Perth in the Kwinana area. I dont buy unless i know the area well and what infrastructure is happening now or due to shortly. Other areas I wouldnt even attempt to help anyone with as I wouldnt market an area Im personally unfamiliar with.
So far a $91k 4 bed house bought july 2002 is worth $150k, and a 3 bed unit in a security complex cost $70k now worth $110k. Have fun.
DD
Don’t sweat the small stuff,and it’s all small stuff!!
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