OfflineI would like to know what the difference is between a bird dog and an assignment? I understand that for a bird dog you get a small fee for finding properties for other investors or wholesalers. I also understand that with an assignment you are tying up a property and flipping the contract for a fee. My question is how do you justify to an investor the difference between lets say a $2,000 bird dog fee and a $10,000 assignment fee? Is there something I"m missing?
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Yes there is, Read my PM. Then enter the explanation here for all to read.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
michaelmangham wrote:
When you assign, you control the property, you have done all the work to get it under contract. I don't justify anything! It is such a good deal that a REAL cash buying investor DOES NOT CARE what you make as long as his/her numbers work at the price you are selling at. The investor knows that if he does not take the deal another investor will. Present yourself as a pro, don't let buye4rs control the deal. This is the price. That's that. Providing you have a REAL deal that is!!!!!!!!!
I think bird dogging is a waste of time. To be a good bird dog you must know how to find real deals and what the numbers are so that you can present it to the investor. Once you have that knowledge I would put it under contract myself and assign it for the fee.
Hope that helps,
Michael
Thanks for replying. My last question is, I have a house locked up for $44K and I want to reassign it for $55K How do I get my $11K out of the deal? I have to tell the investor that the house is tied up for $44K so do I just tell him that in order to get it for that price I charge $11K?
of the house?
Always Looking to Acquire Houses | Always Looking to Amaze Investors