HOw Will I Actually Get Paid As A Bird Dog?
Hello folks, good day to you all... I was curious to know how bird dogs REALLY get paid. In other words, how do they know for sure that, even if they sign a document with various rehabbers that based on certain criteria, they will get paid "X" amount, and both people sign it, theoretically I could send leads to people, and they could simply not pay me, if they purchase or not. Am I going to sue them if I find out? No way would I do that, I would lose more money than $500-$1000, or however the payment arrangement is constructed. So the real question is, how do I go about setting up relationships that will actually pay me to bird dog? Thanks all! - Dave :coolsmile:
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You must demonstrate your value. If you are not in the position to make investments yourself, find those who do and look for the deals they like.
Learn to analyize a property to see if it is any good. Do not take junk / over priced deals to them, it is a waste of "everyones" time. Then take the deal to them. If you bring them good deals that make them money, they don't mind paying you a decent fee to find good deals.
Respectfully,
Phil
Phillip Herrejon
President of the Chicago Real Estate Investment Club
Investment Property Finance Consultant
312.375.7132
I usually work on a flat fee basis for whatever service I provide (except by the hour E-Consulting.) As an example, I had an Investor ask that I facilitate a short sale acquisition on a particular property that he wanted. It was adjacent to and complemented his own property. We agreed on a fee $10,000 structured as follows: $2500 due upon signing our Agreement, $2500 due upon completion of the short sale proposal, but before it was presented to the foreclosing mortgagee, and $5,000 held by my attorney to be released upon mortgagee's written, short sale approval.
I learned years ago that the value of a particular service decreases once it's been provided.