Am I Getting Scammed?
I have a property that I am working on and I dont have it under contract myself. I told an investor about it and he said he would give me a fee of $1000 for the lead. He said he would only make $6000 off it if he flipped it. Now he is asking me for my comps and the real estate agents #. I dont think I should give it to him but This is my first deal so I could be wrong. There is about 110k in equity on it. Any advice, I am supposed to get back to him in a few hours. please help.
jmccurley,
Glad to meet you.
As in any business transaction you need the proper paperwork to protect your interests.
Chances are if you turn this lead over you will be waiting for the "check in the mail".
If this investor is serious he will sign an agreement with you that should he purchase this property you get paid.
John $Cash$ Locke
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Thank you,
Where can I get that contract?
Some of my favorites, though not related just to real estate...
"You must do the thing you think you cannot do." Eleanor Roosevelt
"When we long for life without difficulties, remind us that oaks grow strong in contrary winds and diamonds are made under pressure." Peter Marshall
"An idea is salvation by imagination." Frank Lloyd Wright
"The only thing new in the world is the history you don't know." Harry Truman
Some interesting quotes there. I used to have a text file with all the interesting quotes I found but I lost it some time ago.
A very true quote. And it applies to every aspect of our lives. Until I spent over 10 years living in a several different countries, I never appreciated the fantastic opportunities and standards of living we all posess in the US. Then again, until I spent that time overseas, I never realized the ridiculous level of hypocracy in our society.
But that aside, here are a few of my favorites...
“You cannot escape the responsibility of tomorrow by evading it today.” Abraham Lincoln
"If we don't succeed, we run the risk of failure." Dan Quayle
"REPORTER: Senator, are you for or against the MX missile system?
SENATOR: Bob, the MX missile system reminds me of an old saying that the country folk in my state like to say. It goes like this: "You can carry a pig for six miles, but if you set it down it might run away." I have no idea why the country folk say this. Maybe there's some kind of chemical pollutant in their drinking water. That is why I pledge to do all that I can to protect the environment of this great nation of ours, and put prayer back in the schools, where it belongs. What we need is jobs, not empty promises. I realize I'm risking my political career by being so outspoken on a sensitive issue such as the MX, but that's just the kind of straight-talking honest person I am, and I can't help it." Dave Barry
"I believe that every right implies a responsibility; every opportunity an obligation; every possession a duty." John D. Rockefeller, Jr.
"Ninety percent of the politicians give the other ten percent a bad reputation." Henry Kissinger
"BUSINESS, n: The art of extracting money from another man's pocket without resorting to violence." Max Amsterdam
"CONSERVATIVE, n: A statesman who is enamoured of existing evils, as distinguished from the Liberal, who wishes to replace them with others." Ambrose Bierce
"DIPLOMACY, n: The art of saying 'nice doggie' till you can find a rock." Wynn Catlin
"LIBERAL, n: A conservative that has been mugged by reality." Anonymous
"LITIGATION, n: A machine which you go into as a pig and come out of as a sausage." Ambrose Bierce
"Always borrow money from a pessimist; they don't expect to be paid back."
"Business is like a wheelbarrow. Nothing ever happens until you start pushing."
"Democracy is mob rule, but with income taxes."
"The difference between genius and stupidity is that genius has its limits. "
"If you think nobody cares you're alive, try missing a couple of mortgage payments."
"Is the glass half empty, half full, or twice as large as it needs to be?"
"Someone who thinks logically is a nice contrast to the real world."
"There are 3 kinds of people: those who can count & those who can't."
"When the going seems easy, you may be going downhill."
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