All Forum Posts by: Martin Sterling

Thank You all. 

To Joseph, Yes. I work with someone who has a relationship with an Asset Manager who has properties she's trying to sell and I've been successful at finding and getting the interest of some qualified accredited investors and/or firms. Being the fact I don't have anything under contract, and without me the deal wouldn't occur, I'm just trying to find a way to protect myself. I'm not naive enough to expect a full 3%. The Buyers Agent will be getting her commission.  At best I'm hoping to get a finders fee.

I have several large investment properties that I'm trying to wholesale for an Asset Manager in NY. These properties are between $3M and $20M, Off Market, Private Deals. There is no way the seller is gonna let me put it under contract. Transactional Funding letters only go up to 500K in addition. 

I have found potential cash buyers for these properties as well.

I was told that I should have the seller put me in the master fee agreement for my fee. 

Questions:

1 - How does this work?

2 - Is this a secure and safe way to do business? I was told that I can be listed under finders fee.

3 - Am I able to demand 3 points or more or should I be happy with whatever I get even if it's $5000 on a $40M deal?

4 - What's the difference between a Master Fee Agreement and a Sub Fee Agreement?

Thanks in Advance

Wow! Thanks guys. This was so helpful.

Is there anything you would recommend I keep in mind when trying to buy a condo forclosure. I'm looking in Pennsylvania.

Greetings all. I'm extremely new to real estate investing and wanted to start out as small and safe as possible. I wanted know the communities thoughts on buying condos and renting them out as a strategy? Also, I wanted to know about buying condos in foreclosure.

Are these sound strategies?

What are some pitfalls to be aware of?

What are the best resource to research this strategy?

Thanks