Need Help Fast
Had verbal with investor for bird dog fee not willing to pay after 6 month of hand holding with the seller.what action if any can i take???
Had verbal with investor for bird dog fee not willing to pay after 6 month of hand holding with the seller.what action if any can i take???
I'm not clear on what you mean with
"6 month of hand holding with the seller"
Did the investor take control of the property? If not you won't get paid. Bird Dogs only collect their fee when an investor actually takes the property. Find more investors to market it to. You don't have to work exclusively for one guy. Some investors don't do rehabs for example, so then find another one who does just in case you find a good rehab opportunity.
If he did - "verbal agreements are worth the paper they're written on" - you get the drift, sorry but that's the way it is. You have nothing to substantiate your claim.
Besides do you really want to pay a lawyer $300/hr to fight over a $500 payout? Even if it's $1000?
Consider it a cheap lesson - only cost you your time.
Never deal with that investor again.
If you are sure the property is a great steal you could always get it under control and wholesale it to another investore - more money than bird dogging but also more risk.
Cheers
Roger
honesty is the best policy, but can cost you,
find somone you can trust and work with them