Normal Homebuyer lead off bandit sign. Potential profit?

Question

Hello BP!

I am a new wholesaler in the Pittsburgh Area and had a man call me about one of my bandit signs that he had seen. The guy was looking for a very specific type of property in a certain area for him and his wife to move into. He's a normal homebuyer that wants to put a lot of money into repairs for this home.

I told him we didn't have any properties like that at this particular time, but if we find one that fits his criteria, we will get back in contact with you.

What can I do with a lead like this? Can I find a house and refer him to a real estate agent? I feel like I can make some kind of profit with a lead like this but I don't know where to start calling and how I would set up the transaction.

I appreciate any feedback!

Brendan

Ian Hoover · Answer

Hi @Brendan McGinnis,

You can give the lead to a Realtor like myself however if you are not a licensed agent they will not be able to pay you a legit referral for the transaction, otherwise you can try to find him a house that you can get under contract that might fit his needs but I would assume that would be a lot of work for you because you must market and find those houses.

Hope this helps.

Jay Hinrichs · Answer

@Brendan McGinnis in my mind its a HUGE mistake to put this time and effort into wholesaling and not be licensed so you can pluck these deals off.

now on your bandit sign you would need to in very small letters put your brokerage affiliation ( at least in the states I hold brokers license's you would.

And access to the MLS I think is critical in the industry its the one way you can be sure of your comps.. A broker can give you a starbucks card or something like that but they cannot pay a referral fee to a non licensed person. ( in most states)

James Wise · Answer

@Brendan McGinnis

Welcome to the site.

Why not become an agent yourself? Making money off of leads like that is what you would do daily. You are really missing the boat with your current strategy.

Normal Homebuyer lead off bandit sign. Potential profit?

Normal Homebuyer lead off bandit sign. Potential profit?

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