Wholeale Help! (please)

[Michael Rivera]

Hello BP family I recently signed a contract with a private investor which consisted of me finding off market properties. As well as the owner to see if they'd like to sell. He told me he wants mainly pre-foreclosures and I'll be getting 10k each home.

Now here is where the problem lies he say I have to wait 6-12 months to get paid! I've never heard of a wholesaler or bird-dog getting paid so late. Is this normal and worth wild or am I being ripped off for my services?

All help is greatly appreciated, Thank You.

[Aaron Mazzrillo]

What contract did he have you sign? I'd love to see it. Can you copy and past it to the forum? We all need a good laugh once in a while!

Without even seeing the contract, I think I'm safe to say this is a turd in the punch bowl deal for you. If you can find good deals, put them under contract yourself and wholesale them to someone else. If you could work with the investor on locating deals, then that would be a great bird dogging opportunity, but if he had you sign some kind of non-compete and expects you to do all the work without any training, you're wasting your time.

Find someone who will teach you what to look for. Do a few deals with that person in exchange for the education, then break out on your own. A good bird dog is someone who finds great deals, but doesn't have the marbles to put the property under contract himself. You don't want to be that person. You'll be giving away too much equity.