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Questions about being a property finder for local property investors

by UK Wealth Wr
4 replies
I am a property finder based in the UK. I source properties for local property investors in return for a finder's fee.

Has anyone here done this? Can you offer me a bit of advice? I have some questions:

1) When I source properties and take them to local investors, how do I know the investor will pay me? Do we need some sort of 'property finder's agreement' in writing?

2) Could I outsource the property finding to a team of people working with me?

3) When I find a property, how do I find out it's value, who owns it, whether it's repossessed or not, etc?

4) What are the most effective ways to source properties?

Thanks.
#finder #investors #local #property #questions
  • Profile picture of the author salegurus
    Originally Posted by UK Wealth Wr View Post

    I want to know how to become a property finder in the UK.
    Fixed that ^^^ for you...

    Also - Let me google that for you
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    Think of how stupid the average person is, and realize half of them are stupider than that.

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  • Profile picture of the author origin
    Originally Posted by UK Wealth Wr View Post

    1) When I source properties and take them to local investors, how do I know the investor will pay me? Do we need some sort of 'property finder's agreement' in writing?

    Thanks.
    at the very least yes. When I was in property I learned, "if it is not in writing it does not exist".
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  • Profile picture of the author BBQman
    I guess the "deleted" information that I shared with UK Wealth was trash in somebody else's eyes.
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  • Profile picture of the author OUTFOXED
    Since I am a realtor and investor in the states, I can only give you info based upon what is acceptable here in the US.
    when you find a property that is without a doubt..."a bargain" you get the deal under contract. then you offer it to an investor using an assignment of contract. This will protect your interest by allowing the potential investor to look at the property and make a decision as to whether they want it.

    The investor can't cut you out by going to the owner...you already have it under contract! The assignment agreement outlines the terms and conditions of you assigning the deal to the investor.

    If the investor wants the deal they will have to pay you the assignment fee FIRST. Then you assign the deal to them.

    You get paid for assigning the deal. If the investor screws up and doesn't buy the property, you still keep the fee. What the investor does or doesn't do after you assign the deal is of no consequence to you.

    good luck,
    Eddie
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