I have a question for the experienced RE investors out there. . .
I am just starting out and I'm going to be a property locator for awhile. I am in the process of putting together my buyers list. One of my buyers is in Los Angeles CA. I am in New England.
He wants to pay me a finders fee for property I locate in L.A that he and his partners can close on profitably.
These would not be assignments, just very good finder's fees.
He & his partner would like first contact with the owners since they understand how they want to purchase the property & can explain it well.
What would be the best way to structure the first few deals to see if this is legitimate . . .first sign a finders fee contract via fax, then provide property information?
What would all of you experts out there suggest?