Finders fee, bird dog % ?

[Roland Craeye]

Hello, 

I am recently getting more active on BP, have been consuming the podcast every time I get on the road. I live in Los Angeles and I'm looking for a way to get started in 2018. I want to househack a 4-plex and I'm looking for deals to present to potential partners. I'm also trying to learn the wholesale game. In the meantime I have my eyes open for distressed properties. I have a contact who is a residential and commercial builder. He's always looking for land. Yesterday, I found a vacant home on a 6000 sqft lot between two multifamily buildings. I found out it was bought about 4 months ago and it's still vacant. Maybe a developer waiting on permits. I'm planning on calling the LLC who now owns it to find out more. If they by chance are willing to sell to my contact, what's an appropriate finders fee my contact would give me? The lot sold in August for 1.3 M.

[Aaron K.]

There is no set fee and a flat fee based on price is generally better rather than a percentage in my opinion, be careful of the laws of your state and make sure you aren't doing anything that would require a real estate license.