OfflineNO MONEY, NO CREDIT, NO EXPERIENCE, NO PROBLEM **
I am sure that this topic sounds familiar to some, as well as it should. It was posted here one before but I had to remove it for various reasons. Now I am posting this one - I am going to try to make it as comprehensive as possible and any questions you have you can ask here.
A Real Estate Bird-Dogger will canvas the ads and websites any any other venue to find deals on real estate for investors.
They will then be paid a "referral fee" for this information. Now it is completely up to the bird-dogger to negotiate their fee. Yet, some investors only pay a flat fee for referrals, but you know what I say, EVERYTHING IS NEGOTIABLE!
I bet by now you are asking yourself, :How Do I Get Paid?". Well lets take it step by step.
1. Advertise your services as a Bird-Dogger to every Investor you can find. Use craigslist, backpage, flyers, word-of-mouth and whatever elese you can find to get your service out there.
Now at this point you will start receiving phone calls and emails from REALTORS, telling you that Bird Dogging is illegal and that only a licensed Real Estate Agent can get paid in a real estate deal - NOT TRUE. You are not selling real estate you are providing a location service.
2. Once you have built a BUYERS list (this is what you have gotten from your ads for your service) you can then start looking for properties. When combining the list you should be asking what their price range is, where they want to buy, how soon can they close, etc... That would mean anything that YOU would need to make sure that YOU get paid faster and also these questions qualify the buyers.
You definitely DO NOT want to bird-dog for an investor that is NOT a REAL - rehabber. Why, you say....well because if you bird-dog for a guy and he turns around as ASSIGNS it to someone else and their financing falls through you were just left hanging, with no referral fee, and lost a really great deal. So when dealing with investors looking to use your service, make sure to tell them that you DO NOT do third party deals. Anything you find for THEM, MUST BE CLOSED BY THEM, and also in a timely manner.
REMEMBER.....
YOU ARE NOW A BUSINESS OWNER - SO RUN IT LIKE ONE!
3. Getting PAID!
a. If you agreed that you will receive your payment at close of escrow, then indicate so in he promisorry note. Make sure you stay in contact with buyer so you can track their progress.
b. Get PAID using a subscription list! I prefer this way and this is how I do it. I compile me list of buyers and then I compile a list of great deal (properties) I then charge a flat monthly fee for providing the list. I guarantee at least 10 deals on it and all at least 35% UNDER FMV. I then charge 250.00 permonth for this list and I send it out to whichever of my buyers want to subscribe. So if you have 5 buyers that want to subscribe, then you profit 1250.00 per month weher they close on the deal or not.
c. A COMBINATION OF BOTH. You can do both, provide individual deals as well as a subscription list.
d. GET PAID UP FRONT - sometimes you can get paid up fron, by accepting a smaller fee. A lot of investors would not mind giving you 200 - 500 dollars up front on a good solid deal, especially if they see where they will profit well from it. Keep in mind that they may be doing some rehab work that could take months or maybe its an FHA deal and there have to to repairs made - which again could take months.
4. Keep good account and referral records.
5. DO NOT GIVE OUT THE PROPERTY ADDRESS - until you have a nin disclosure agreement signed by buyer. This will prohibit them from acting on the property behingd your back and/or getting someone else to step in an buy it, so they will not have to pay YOU! Once you have the agreement signed, provide address and any other useable info to help the investor make up their mind.
Being a Bird-Dogger can and IS a profitable BUSINESS. Thats right, a business. If you run it half heartedly, you will never get paid, you will never succeed and you will never experience the full spectrum of becoming a real estate investor.
Think of this as the "walking" phase and you can only grow from there.
In the mean time you have done the following:
You make money and profit from your hard work. It can be anywhere from $100 to maybe up to $2,500 or more on each property your investor. buys from you.
You have the opportunity to work in real estate investing and learn from from others that have done it successfully.
You'll work with investors that do not have the time to find deals but have guaranteed money.
What does all this mean? It means that a few good referral deals under your belt, a successful and qualified buyers list, a network of investors with money to spend and the vast knowledge of real estate you have just gotten from OJT (On Job Training) - you are now ready to tackle investing YOURSELF.
Using some of the funds you saved from bird-dogging you now have enough to start putting down the down payments and earnest money you would need to lock up those properties and start assigning and/or buying them.
BIRD-DOGGING......
Man is real estate fun!
I hope this helps you and I am sure you will have lots more questions and as I always say, the best advice I can give you is to - JUST DO IT!
Get up off the couch, step away from the computer, drop the books and put down the phone. GET TO WORK!
Good Luck and Much Success.
Bird-Dogging Tip: Start a notebook with picture and any thing else you have on each property. Use tabs to seperate the structure types and what ever else you would like. Keep it with you at all times - its now your business at a glance.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
i dont know if there is a statute outlawing dirddogging in tx. i've talked to several people who have told me that and when i ask realtors or county officials, they look at me like they have never heard of bird dogging.
Help,, my real estate agent alerted me to a home that is due to forclose in just a few days. I can't move on the home that quickly, due to lack of funds. I thought I could possibly Bird dog this property to an investor. Does anyone have any quick suggestions on what type of add I could post on Craigslist.com, so I might get a quick response. Please any help I can get is much appriciated.
a little about the property
3 bed
1.5 bath
1200 sq ft
needs carpet and paint but nothing else
was originaly listed @ $164,900 but price has come down to $157,000 & my realtor thinks that an offer of 130k could get the job done.
I have a list of sold comps in the area that range from 170k-200k for sililar types of property. So I think there is great equity in this home. I would think if I can bird dog this broperty to an investor and collect a fee of $4000($1000 per 10k of real equity) it is a win, win, win for all.
Any sugestions?
Bill
Which form is used to get your commision and where do you get it? Is it a disclosure agreement? Can someone answer these questions. Someone that has actually done this and made money.
Hello Bill,
You cannot legally advertise a property that you do not have under contract. You must have a property in a purchase agreement or option agreement before you can market the property. You Can not market any property that is listed with a Realtor they have that property under contract and have the right to market.
I understand your excitement I have been there. As part of the DG family I just felt the need to let you know.
Good luck!!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
http://realwholesaling.com FREE wholesaling tips and resources!
To your success,
Carol Stinson
Also is this what you're suppose to use in the birdogging business? or do you have to use a different kind of agreement document?
Promissory Note
(For Delinquent Renters. Require renter to fill out this form at your office. This is legally binding must be paid as agreed
or legal action can and should be taken.)
FOR VALUE RECEIVED, _____________________________________________________________________of
ADDRESS________________________________________CITY___________________STATE_____ ZIP______
Promise (s) to pay to the order of___________________________________________________________________
The principal sum of ________________________________________and/100 DOLLARS ( $ _______), in legal tender
of the United States, with interest form the date hereof at the rate of ________% per year or any part thereof. Should
this not be paid in full within thirty days from the date hereof or ant any time during a thirty day period, interest shall be
charged at a daily rate of $______ per day.
Principal and interest shall be payable at the offices of:
________________________________________
________________________________________
________________________________________
________________________________________
Or at such other place as the holder hereof may designate in writing.
Should any installment not be paid when due, or should the Maker or Makers hereof fail to comply with any of the terms
of this agreement, or if Holder deems itself insecure or if Maker defaults under these terms, the entire unpaid principal
sum evidenced by this Note, with all agreed interest, shall, at the option of the Holder, and without notice to the
undersigned, become due and may be collected forthwith, time being of the essence of this Agreement. It is further
agreed that failure of the Holder to exercise this right of accelerating the maturity of the debt, or indulgence granted from
time to time, shall in no event be considered as a waiver of such right of acceleration or estop the Holder form exercising
such right.
Installments, or payment ( if single payment Note), not paid within 5 days of due date shall incur a late fee of 15% of the
installment or payment, but not less than $ 10.00. The Holder shall be entitled to all costs of collection should this Note,
or any part of the indebtedness evidenced hereby, be accelerated and not paid. Should this note be collected at law or
by an attorney at law, and Attorney/Collection fee of 15% of the balance due, but not less than $ 100.00, plus any costs
and administration fees, shall be added.
And each of the undersigned, whether principal, surety, guarantor, endorser, or other party, severally waives and
renounces demand, protest, notice of demand, protest and non-payment.
IN WITNESS WHEREOF, the parties hereto have caused these presents to be signed in person this______day of
__________20____
_______________________________________
Witness
_______________________________________
Buyer
_______________________________________
Notary Public
_______________________________________
Seller
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
Hi - when you do an assignment, you use a promissory note and you can find one in forms and docs to the right of this page.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
If you are reading about bird-dogging contracts I thought you might actually want to read up on and find out what bird-dogging was all about
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
I would suggest that if you are doing a note contract that you get closing agent to assist you. Doing a note privately can have a lot of problems wroght with it. If there is an issue everything falls down to "he said she said" - This is not what you want.
Get a closing company, pay the little money, it will be worth your time. For a simple note closing I have paid 300 - 600 dollars on the low side depending on the size of the transaction.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
thanx anita for the info and taking the time to service us with the great info
"Saying I can't or I will is a world of difference that will set you a world apart" (ME) Edwin L.
"Where there is a will there is a way" God
"Knowledge is only potential power, taking ACTION it is the real measure of intelligence" unknown
"True insanity is doing the same thing over and over and expecting different results" Einstein
thank you for the kind words.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Hello all.
I am very new to the DG family forums...today to be exact. I have been reading these tips and ideas and am needless to say, SO excited about birddogging, assigning and tax lien sales to say the least. However, I just read something that has put a shadow on the hope I have from all of your insights....Can someone tell me if BD'n is really illegal in TX or is this just another case of mistaken actions (property locater as opposed to getting paid to 'sell' property without a license). Oh I hope it is an option because I need to find a low risk, no money option to REI and FAST!! I look forward to learning from you all and do appreciate more than you know your time and attention to detail in your discussions.
Sincerely,
Trina
I was just looking for advice on how to birddog. Thanx Anita for the advice.
What is very interesting is that we have been checking into how bird dogging and assignments can be done successfully in TX. We have had client who have used lawyers to draw up the contracts and have done well. We will post more when we have specifics about the concepts needed to do this successfully in your state.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
This is a great post. I was so unsure before. So glad I found it. Now I can finally get on with it!!! YAY
Thanks for writing it Anita
Gina
Thank you for this info. I know others in Texas that have had no problems as well but please update this thread when you have additional info
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
In addition to a Confidentiality Agreement, I also heard that a birddogger should use a Non-Circumvent Contract. Has anyone ever heard of this?
Cyle Greenwell, President
Max Enterprises, Inc
612-437-7960
maxenterprisesinc@****
Should have just continued to read. I found the answer on the next page of this forum.
Cyle Greenwell, President
Max Enterprises, Inc
612-437-7960
maxenterprisesinc@****
dont fret - I do the same thing from time to time. Its amazing what you find on this site when you click to the next page
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Anita,
Can you share more about the website that you offer to investors that pay a monthly fee to see the deals you have brought to them, please? How much does it cost to build a website like this? How do you make it secured so that only paying customers can see it? How do you ensure that your investors are happy with it? I know you could probably write an entire forum on just this one topic.....heck, maybe you should!
Thanks again for everything you do for us!
Cyle Greenwell, President
Max Enterprises, Inc
612-437-7960
maxenterprisesinc@****
Hi Anita,
I am getting ready to hand over a couple of bird dogs but would an NCND statement be ok without a promissory note, or do you always do both?
I had many questions about bird-dogging and all of them (that I can think of right now) were answered here. I met with a loan mod expert today (abt our house) who said it would be a waste of time to bird-dog, that getting my real estate license would guarantee that I made money on the deals instead. That would be great if I could do it by tomorrow, but I need to get the money flowing sooner than later. Maybe I will pursue that option soon too. Thanks for the inspiration!!
In His strength and time -
d
I have strength for all things in Christ Who empowers ME [I am ready for anything and equal to anything through Him Who infuses inner strength into ME; I am self-sufficient in Christ's sufficiency]. Phil 4:13 AMP
Hi Carol,
How's the bird dogging deal going for you ? I liked the program that you are working with other partners. I am from the Hudson Valley area in New York. Hope to hear from you soon and I wish you well.
God Bless You !
Paul T. La Moy
Ok so basically, all i have to do is make the Buyer sign a promissory note just in case he goes behind my back?
Is that right? Where can i get this "promissory note?"
"Whenever you find yourself on the side of the majority it is time to pause and reflect."
-Mark Twain
Thanks Anita. It's so great to be able to look back at these forums and get the info as needed. Continued success.............Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Oh i see. Promissory notes are for Assignments while i can use a non-disclosure agreement for "Bird Dogging."
Great thread here.
"Whenever you find yourself on the side of the majority it is time to pause and reflect."
-Mark Twain
Hello Ms. Anita
My name is Decker Randolph
I am a new investor in the New Orleans, La. State and I am interested in knowing how to be a successful Bird Dog in today's Market.
How can I get started right now!
I look forward in talking with you soon.
Thank You and God Bless
Decker Randolph
wow!!! i started putting ad at craiglist and im telling you i got emailed from four local investors and one from california, i did what anita said and it worked ... hahaha!!! thank you guys guys just ignore the negative responsed..
emzky of honolulu
Hi Sandra,
I just had this happen to me with the free money grant site. I ordered a cd for 2.95. And it was some where in fine print, something you couldn't see.Tha t I agreed to a charge of 29.95 a month. I was able to get the info from my bank and they gave me the number and acount to call them. You can also dispute the charges with the bank. Hope this helps. Continued success...Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Hi Sandra,
I just had this happen to me with the free money grant site. I ordered a cd for 2.95. And it was some where in fine print, something you couldn't see.Tha t I agreed to a charge of 29.95 a month. I was able to get the info from my bank and they gave me the number and acount to call them. You can also dispute the charges with the bank. Hope this helps. Continued success...Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Hi Sandra,
I just had this happen to me with the free money grant site. I ordered a cd for 2.95. And it was some where in fine print, something you couldn't see.Tha t I agreed to a charge of 29.95 a month. I was able to get the info from my bank and they gave me the number and acount to call them. You can also dispute the charges with the bank. Hope this helps. Continued success...Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"