What should I do?
I am a newbie bird dog and have been contacted by a local realtor/investor, who would like me to birddog for him but, as a realtor he says he can not give me cash. Is this true? He says he can help me get buy my own properties though and insist he would make it worth the effort. What should I do?
What you got to lose? He is just looking for listings or a hot flip, why not pass the ones you don't do to him. Chances are if he is an investor also, you won't get much to pick from after he screens them unless your looking for something he is not. I know he can't split commissions thats illegal, but a prospecting fee I am not sure of.
Darwin
MDORN,
Just be careful that it isn't someone trying to get you to do the leg work, and then you get cut out. If she/he won't sign a contract with you, they may not be on the up and up.
You can email me with question, and I am probably looking for a bird dog in your area, also
Gary-TX
uneedahome@earthlink.net
Hi mdorn66,
Why not create a cleaning contract for the properties you find him, then submit an invoice for services due in 90 or 120 days? Otherwise, you better get exact information about HOW he is going to make it worth the effort. What HE considers worth your effort may not be what YOU consider worth your effort. Cash is king.
In any event it sounds like he should get leftovers from what you have offered other investors and chosen from for your own investments.
wgheisler
Thanks guys,
For all the responses. I'm kind of leary about sending him any properties, because I think he is thinking along the lines of helping me get into my own properties, in which he would benefit in also.He is into rehabs, so I might just get into wholesaling and get my cut that way. What are your thouhgts?
Thanks,
mdorn66
Looks like a win/win mentoring relationship, assuming, of course, he follows through. However, I think you can do better. Most real estate investors are willing to mentor you and provide a bird dog fee, as long as you are bringing them profitable properties.
Think about it. You bring someone a deal, they make $10,000, and you learn something. Doesn't that mean you just paid $10k for a lesson? In my opinion, not worth it, when I can make $1000+ and have the lesson.
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