A deal that isn't mine...

[Leeta Song]

i have a friend that want to buy bigger apartment complex and got a call when i was at work that an investor (work with lot of other investir) is working with a rental company to sell most of their aprtment complex. i'm a newbie and don't know how to go about this. should i ask for a split if the deal went well or should i just ask for the referral fee. what should i say? any advice would help thanks.

[Robert Leonard]

Ask your friend who wants to buy a bigger apartment complex if they will pay you a finder's fee for bringing them a lead on a property that is for sale? That's the kind of thing a "bird dog" does.

You aren't negotiating a deal or putting anything under contract with the seller, so you won't make as much as a wholesaler could and you shouldn't ask for a split either. This is how you can get involved and be a part of a transaction that you otherwise aren't ready to participate in at a more skilled level yet.

Time is of the essence and instead of trying to learn how to do this while it is in your hand, you should do the best thing to move the deal forward by putting your buyer in contact with the seller now. There will be more deals that you can be more involved in and make more on when you learn more and are prepared to fully capitalize on the opportunity.