All Forum Posts by: Randal McLeaird

Thanks for the quick reply. 

I'm meeting with several friends and mentors to see if they can shed some light on it for me. I'm looking for a full time PM that has a salary and commission or mostly commission. The more jobs they get done, the more they make but they'll be my guy on the ground. So, that's what I'm trying to get pricing on. I just sat with a GC and he told me $70k is the going rate...I'll let you know if I get some more info and I'll circle back to this post to detail what I end up doing. Might help someone else in the future.

Cynthia, did you ever get pricing on this? I'm looking for someone similar but I do volume. I'm trying to gauge the pricing structure others have used and I haven't seen anyone post numbers yet on any post I've reviewed this morning...still searching.

Brett, there are many wholesale only companies that hire for this type of person. In San Antonio, I hired reps for this type of thing and the model they told me their previous wholesale company paid was as follows:

Acquisition rep responsible for finding their own deal, contracting it for the company, getting it to closing gets 30% of the fee generated by the wholesale. So, if it was a $10k wholesale fee - they make $3k. 

Sales rep who finds the buyer and get's the down payment to secure the sale gets 20% of the fee.

I tried this model when hiring reps and realized it didn't work since I was paying for all the overhead, supplying leads (like you) and the reps were not staying on top of the lead calls. I've since modified it and we'll see how it goes. When I buy one of the deals for my own portfolio, or to rehab the house, I simply pay the agent a commission for finding me a deal (I'm a Broker and they're all licensed reps). If you have a different model you're using that works, I'd love to hear about it. 

Gabe, I'm in a similar situation without knowing the guy I'm going to try to hire. The search has begun but I don't have a pay structure in mind. Did you ever sort this out and come up with a price structure that's working for you?

Contact Kyle Rutherford with Networth. They usually have a solid list of guys

yep… it was my knee jerk reaction as well but I thought I'd ask around anyway. He has a linkedin account I found with some real estate related businesses on there but I haven't seen a solid reference yet.

We (biz partner and I) posted a few times about raising capital and doing a ppm. We were contacted directly by someone who saw the post and claims they're able to assist in raising capital for our business so we can expand and buy more. I'm not sure if they've helped anyone, or if anyone else on BP has been contacted by them, but the website isn't a great advert for the guys. So, if anyone has had a successful experience with them, I'd love to know about it.

Thanks in advance

Brian, I'm a broker buying for myself so I use the state contracts in Texas. There is a termination option in there so I write up the contract terms day one with the option to terminate. Would it be easier for you to do the same? I have my offers pre filled with $10 option for 60 days. Never have a problem with it because I'll either buy it or assign before.

Partner with someone

Originally posted by @Chris K.:

KwikSet Smartkeys!!! I absolutely love how easy it is to rekey locks now and I've been able to eliminate the box full of doorknob/deadbolt in ziplock bags. I have 6 keys that I just rotate out for each property. Some people also like landlordlocks, I haven't tried them out yet but may get a set to try out.

 yeah a buddy of mine has landlord locks and loves them. he also has a 30 unit and another larger complex so it saves him a ton of money, and time. haven't used them myself but a good resource.