Bird Dog Chat Session with John '$Cash$' Locke

[20:45:46] TCIModerator> Welcome to tonight's chat....it start's in 15 minutes!!!
[20:46:19] dshnaidman> Hi
[20:46:34] hasspoken> hello all
[20:46:47] hasspoken> the session starts in 13 mins right?
[20:47:40] TCIModerator> hasspoken...yes
[20:47:46] hasspoken> thanks!
[20:49:51] vicentps2001> what exactly is this session going to cover?
[20:50:30] DK> i assume finding properties and dealing with investors on a bird dog basis.... investor contracts, etc. [20:50:38] DK> at least, judging by the contents of the book.
[20:50:52] vicentps2001> no tax lien info though?
[20:51:00] TCIModerator> That is the jist of bird-dogging...
[20:51:13] DK> doubt it. why would a bird dog conversation be talking about tax liens?
[20:51:13] TCIModerator> no tax lien info tonight...sorry
[20:51:33] vicentps2001> what is a bird dog? Is that a dumb question?
[20:51:44] DK> someone who finds properties for investors and is paid a finders fee
[20:52:10] vicentps2001> oh, I see
[20:52:13] vicentps2001> ty
[20:52:33] dbow17> am I late?
[20:52:39] DK> don't think so
[20:52:58] dbow17> okay. thanks.
[20:53:18] TCIModerator> The chat on bird-dogging will begin at 9:00..just a few more minutes.....
[20:54:08] DK> Joel, have you read the bird dog book yet?
[20:55:18] TCIModerator> some portions of it...i'm just overwhelmed with getting lots of things running smoothly on the site!
[20:55:52] HoGiHung> hiya all!
[20:55:59] dbow17> hey ho
[20:56:28] HoGiHung> I had a little difficulty getting in, but looks good now
[20:56:28] dbow17> so who's excited about all the money they're gonna make bird doggin?
[20:56:31] realestateprofit> howdy everyone
[20:56:40] DK> I've read the sub2 book... just curious if it has more to offer in terms of finding properties.
[20:56:48] DK> (this book that is)
[20:57:18] DK> Of course, I'm always interested in anything John has to say.
[20:57:22] HoGiHung> I found the Bird Dog book to be the lead in for Subject to
[20:57:28] johnlocke> $$$$$ Welcome to the Bird Dogging Chat $$$$$$$$
[20:57:30] joel> Hey GUYS
[20:57:34] realestateprofit> hi
[20:57:34] HoGiHung> both have proven valuable in my library
[20:57:36] blueswarrior> hello
[20:57:41] joel> Glad everybody could make it
[20:57:42] sanderso1019> hi
[20:57:44] DK> Hey John. Nice to see(?) you! =)
[20:57:53] joel> I would like to welcome everybody here
[20:58:15] johnlocke> Let get rolling, thank you Joel for letting giving us this site
[20:58:17] muzzbo> thanks
[20:58:20] joel> Sure
[20:58:35] joel> First off John, what is a Bird Dog??
[20:59:11] johnlocke> A Bird Dog is a investor who specializes in finding deals for the more expierenced investor
[20:59:37] johnlocke> If he learns his trade well then he becomes the pro investor
[21:00:13] furiousinc> Hello Everyone!!!
[21:00:20] johnlocke> He can also find deals that he may want or what i call sweetheart deals
[21:01:49] johnlocke> The bird dogs can net work with one another in different states, there is plenty of action for the bird dogger
[21:02:16] joel> I think the best part is that they learn how to find deals for themselves at a later time
[21:02:45] steph> do they work through investment groups?
[21:03:01] joel> You should
[21:03:01] johnlocke> Finding investors is easy but you need you are right Joel when they learn the methods then the know how to find deals for themselves
[21:03:18] johnlocke> What type of investment groups?
[21:03:30] joel> Find a Investor Club nearest to yourself, because there isn't any better way of networking
[21:03:34] DK> John, I'm planning to wholesale and keep any good sub2 deals I can find along the way. As you may recall, I'm new to this, but I do have decent credit and some operating funds, if not a ton of money to plop down on a purchase. Do you think Bird Dogging would be a smarter way to start out than assigning rehab deal to other investors?
[21:03:45] steph> REIA
[21:04:20] furiousinc> DK, cherry pick the deals you like, would be my suggestion.
[21:04:26] johnlocke> You have a two pronged attack plan as an investor you can train your own bird dogs to find deals for you
[21:05:02] johnlocke> Yes REIA clubs are excellent to find investors, make sure you find the ones who are really serious
[21:05:07] dbow17> john, why are real estate agents so... aprehensive to bird doggin?
[21:05:33] steph> ok thanks
[21:05:34] Tim-Dallas> john, you mean serios clubs, or investors
[21:05:48] johnlocke> Real Estate agents use Bird Dogs all the time, this is how they get many leads, they just do not talk about it
[21:06:05] johnlocke> Tim Both would be great
[21:06:18] DK> At my rei association, there's a guy that actually advertises to buy your deals, leads, or even be a cash partner.
[21:06:25] DK> If you go to the right groups, you'll find the investors.
[21:06:32] Tim-Dallas> i'm in dallas and there are two. i plan on joining both for this year to check it out
[21:06:41] hasspoken> I am going to my first RE club meeting tomorrow, how does one tell if a club/investors are "serious"
[21:06:55] GreenGhost> hi Tim, I'm from Arlington... TX
[21:07:02] johnlocke> If you stop and think about what investor does not want deals brought to them
[21:07:08] blueswarrior> me to green
[21:07:22] Tim-Dallas> great
[21:07:34] bucsfan> And how does an investor tell if a bird dog is serious enough to spend time training him?
[21:07:40] DK> So John - as someone who has your sub2 course, can you tell me what I stand to learn from this book that isn't covered there? (in general terms)
[21:07:49] johnlocke> If you just be yourself, find out what they are looking for, the wannabe investors will soon drop by the wayside
[21:08:18] mwm12> hey furiousinc i know you are from chicago so am i where are the rei clubs
[21:08:34] dbow17> john, what piece of the marketing mix would you suggest starting with?
[21:08:56] johnlocke> DK if you learn to train Bird Dogs, then you will have a constant supplie of leads, not everyone wants to be an investor but want to be involved in CREI
[21:09:02] furiousinc> Mwm12, there is one that I know of it meets at the College of Dupage. the next meeting is on the 16th this month.
[21:09:26] DK> Good point. How do you suggest recruiting people to train? Do you talk about that in the book?
[21:09:49] johnlocke> Advertising is very important, us methods that are within line of your budget
[21:10:05] DK> Considering I'm a recruiter by day, you'd think that wouldn't be too hard! =)
[21:10:32] realestateprofit> John, here's the deal. i need a good source of sales comps. Do you think agents would be willing to trade leads as a source of reliable comps? Or do you have a better way of gathering this information? I'd like to provide this as part of the service to investors
[21:10:36] blueswarrior> how bout if you have more time than money to market john what methods would u suggest?
[21:10:49] johnlocke> DK no if you had the book then you would train them to find deals for you I pay for their Bandit Signs plus if the are good other perks
[21:11:42] DK> I suppose you could probably recruit trainees at the rei groups.
[21:11:49] johnlocke> You should be getting on line comps from various sorces there are links on this site for comps
[21:12:19] realestateprofit> yes..i know. The problem being that I live in a somehwat medium sized area.
[21:12:26] mwm12> how much salary will u make and how often can u do it
[21:12:29] realestateprofit> online info seems to skip this place
[21:13:08] johnlocke> I just paid a bird dog for a small deal $800 so would that amount once a month help
[21:13:18] hasspoken> if an investor has a considerable amount of time (invests full time) is there a real need for bird-doggers?
[21:13:26] DK> realestateprofit- if you have a wife, get her to get her realtors license and then pay some small broker to let her have access to the MLS. =) I'm trying to convince mine to do that.
[21:13:43] dbow17> I believe creating momentum is the most important part of this business. Where do you begin? How does this momentum start? Is it with the advertising?
[21:13:49] realestateprofit> i would love access to mls...gotta find some barganing chips first
[21:14:12] johnlocke> hasspoken do you have all the deals you can use if so then sell them to other investors if not then use bird dogs
[21:14:19] steph> what are we looking for in the Mls listing. foreclosures?
[21:14:30] realestateprofit> sales comparisons
[21:14:49] GreenGhost> not that simple DK - real estate agents usually have to shell a good amount of $$$ to stay under a broker - you'd be better off trying to get on the MLS other ways
[21:15:07] GreenGhost> my ex-wife is a TX real estate agent I saw the fees she had to pay month in and month out
[21:15:09] furiousinc> Hey everyone, don't forget that appraisers have access to the MLS, befriend them
[21:15:12] DK> Any suggestions? I know some areas allow non-realtors in for a fee, but mine doesn't.
[21:15:20] eadsd> Is MLS really that important to find sweetheart deals?
[21:15:25] mwm12> locke that sounds great i am a college student with no money but will you pay me if i brought u something every week or what is the time frame
[21:15:28] realestateprofit> yes
[21:15:30] johnlocke> i do not use MLS
[21:15:37] DK> Yah, I have three friends who are appraisers - good people to know if you want comps.
[21:15:46] dbow17> isn't the MLS overrated? they are amainly what "they" consider market value
[21:15:52] johnlocke> mwm123 where are you located
[21:16:09] Clair-MO> I don't either use MLS for comparisons.
[21:16:15] mwm12> illinois no im not saying me just in general
[21:16:21] realestateprofit> i assume once you get to know the market..that's one thing
[21:16:29] johnlocke> Thank you clair overated
[21:16:36] DK> We were only talking about the MLS because he doesn't have online information available to him from places like dataquick.
[21:16:37] HoGiHung> ive had good success with houseandhome.msn.com for comps
[21:16:41] Tim-Dallas> so you use mainly bird dogs
[21:16:41] realestateprofit> other than that....how's one to know sales prices?
[21:16:59] johnlocke> I have Sub To investors in IL so I am sure they would use you
[21:17:00] Clair-MO> You are right sir John.
[21:17:26] furiousinc> The MLS is overrated as far as finding good deals, but for comparisons it is good.
[21:17:35] HoGiHung> john - of all my calls from investors, everyone one is a rehabber/flipper
[21:17:36] johnlocke> Learned to use bird dogs many years ago where do you think alot of my deals came from
[21:17:40] furiousinc> Befriend a couple of appraisers
[21:17:53] johnlocke> HO then find what they need
[21:18:02] mwm12> really can i keep in touch with u i am not ready to start yet i have to buy your book
[21:18:10] HoGiHung> lol im trying. just amazed at teh number of flippers
[21:18:25] johnlocke> mwm12 stay in touch
[21:18:25] Signoff: james (Read error to james [ACA59184.ipt.aol.com]: Connection reset by peer)
[21:18:31] furiousinc> I agree HoGi
[21:18:51] furiousinc> I only have one investor interested in holding
[21:19:17] johnlocke> Like I said find a sweet heart deal and do it yourself
[21:19:37] dbow17> thats a good question... what type of investor is best for bird dogging?
[21:19:53] midmomike> many seem worried bout the mkt dipping soon
[21:19:56] johnlocke> remember I am available to help so if questions come up post here at TCI
[21:20:02] sywong> when you say bird dogging, do you mean getting info from? or to?
[21:20:06] Clair-MO> John, What type of real estate would be most profitable for a bird-dog?
[21:20:16] eadsd> John, I'm just starting out... when I find a good deal in my farm area, what's the likelihood of one of these bandit sign investors in my area being interested in me assigning the deal to them?
[21:20:16] dshnaidman> John, what is the deal with lenders no longer willing to lend on homes that haven't been owned for at least 90 days?
[21:20:39] GreenGhost> holding can be very profitable with lease/options you instruct the buyer that they are buying the property thus you have no landlording to do and the new owners often fix up the house for you all while they are paying over the normal rent price and paying the pmt while the house appreciates for 2 years
[21:20:39] sywong>
[21:20:45] johnlocke> I jsut read on a post where a contruction guy pays out $50K a year to bird dogs.
[21:20:51] steph> define a sweetheart deal. what's your perfet deal?
[21:21:29] johnlocke> This is a seasoning issue some lenders want a certain period of time between owners
[21:21:40] muzzbo> does a bird dog need to be familiar with the entire real estate business or just looking for property JOHN?
[21:22:00] DK> Not all lenders require seasoning. You can get conventional loans without it.
[21:22:04] johnlocke> Steph is that stands for Stephanie then you are a sweetheart deal
[21:22:30] Tim-Dallas> what is the typical fee for bird dogs?
[21:22:30] steph> oh come on now!
[21:22:59] steph> I'm not a wannabe!!!!
[21:23:02] johnlocke> I will give you a sweetheart deal just did a deal $10.00 for the equity sold for $6k down plus plus plus
[21:23:30] realestateprofit> John...I guess I should phrase my question this way. Should we offer investors market analysis information ?
[21:23:33] steph> a short sale?
[21:23:41] johnlocke> mussbo no a bird dog will learn as he does deals concentrate on what your investor wants to start
[21:23:52] dshnaidman> John, I thought that HUD requires the lenders to wait 90 days.
[21:24:15] johnlocke> RIEProfit the more you give the investor the more you can charge them
[21:24:34] HoGiHung> John I met with an investor today at lunch, who flips, and he told me that most of his deals occur with no advertising of sale on the property
[21:24:48] HoGiHung> and he doesnt do foreclosures. all from his network of investors
[21:24:56] DK> just a thought: if you're wholesaling, you're probably sticking to deals that meet the rehabbers 65% LTV formula... but it would make sense to bird dog the deals that are good, but not quite that good. Heck, if you're finding them, you might as well make some money off of them.
[21:25:17] daven11> how do I find an investor after I find a property?
[21:25:40] yabadabado> Yabadabado-Michigan>Finding deals in Michigan any body want some to work on!
[21:25:42] midmomike> I try to make sur the investor gets a minium 30% ROI,is that a good guideline?
[21:25:47] realestateprofit> i would suggest finding investors first daven11
[21:25:53] HoGiHung> I placed an ad in the newspaper and my phone wouldnt stop ringing
[21:25:57] johnlocke> Tim the lower amount would be $500 for any deal you can charge a percentage or flat fee in the beginning charge 10% of the deal or a maximum of x number of dollars
[21:26:37] johnlocke> 30% of the ROI is great midmomike
[21:26:45] DK> When you say 10% of the deal, do you mean the anticipated ROI, or the purchase price?
[21:27:04] johnlocke> HO they need your service
[21:27:51] GreenGhost> How would someone get paid for property leads? I would assume no one is going to pay up front and as time goes by how would you track if an investor ever pursued your lead and bought the property? You couldn't tell who ends up buying/rehabbing a given property...
[21:27:54] johnlocke> 10% of the down the investor get if he is a sub 2 guy or gal you will have to figure what the deal is worth to the ivnestor
[21:28:00] sbchamp27> Hi John, this is Stephen. I have spoken to you on the phone a few times here in the last week.
[21:28:02] midmomike> i'm moving to where HO is from...lol
[21:28:06] HoGiHung> John I know. The investor friend I met today has offered to give me leads since he is well connected
[21:28:16] johnlocke> Hi Stephen
[21:28:20] HoGiHung> hehehe mid
[21:28:45] furiousinc> Green Ghost, you can find out who buys a property
[21:29:03] sbchamp27> is this primarily about birddogging or may I post general questions about sub2
[21:29:14] johnlocke> You can keep track of what the ivnestor does with the property it is public record
[21:29:20] GreenGhost> what if one investor tells his buddy and they have different names there's no way of proving anything
[21:29:20] daven11> do investors have to be local or can I deal with anybody in the US?
[21:29:28] johnlocke> Sub 2 short one
[21:29:41] midmomike> my biggest problem lately is estimating repair costs, any suggestions?
[21:29:48] furiousinc> green ghost, if you are looking to get took, then you probably will
[21:30:12] gregory> hello my name is gregory
[21:30:15] johnlocke> Geen Ghost why would an ivnestor cheat you if he does then shame on him
[21:30:21] realestateprofit> lol
[21:30:24] valeria> I couldn't get the chat to work until now - John, what would you say are the ten biggest birddog problems? Or "big 5" ?
[21:30:24] johnlocke> Hi gregory
[21:30:31] gregory> hello
[21:30:43] DK> If you're bringing an investor good deals, then hopefully he is smart enough to realize that he needs to pay you to keep getting them.
[21:30:45] rion> they will only screw you once
[21:30:49] GreenGhost> I am not into bird dogging I am just finding it hard to believe that referral fees ever actually get paid
[21:30:52] gregory> thank you john for the invitation
[21:30:57] muzzbo> john the world is also filled with snakes
[21:30:58] sbchamp27> do you only send postcards to homes 1-2 yrs old or do you have other lists that you mail to?
[21:31:20] johnlocke> Go to home depot pick up a CD called Pro Book this will get you going on repair costs
[21:31:21] maggiems> seems that the best thing to do is check out the investor. i'm sure if they are screwballs the reputation will proceed them...
[21:31:30] DK> If wholesalers can make thousands by flipping or assigning deals, why isn't it feasible that an investor would pay a few hundred to buy a deal from a bird dog?
[21:31:40] midmomike> thanks,john
[21:31:49] realestateprofit> you could drown in "what-ifs"
[21:31:53] DK> that last comment was for green ghost by the way
[21:31:53] johnlocke> I start with 1 2 year old loans and home there is usually plenty of them
[21:31:54] realestateprofit> just do it
[21:32:27] johnlocke> Green Ghost you have a contract enforcable with your investor first
[21:32:38] GreenGhost> ok, then my next question would be how many people on this chat have actually gotten paid for doing this in the field vs. talking about it? and how did the pmt. process work?
[21:32:48] GreenGhost> ya but how do you track the property
[21:32:53] sbchamp27> wholesalers pay money to birddogs all the time. I have paid up to $1,000 myself for a deal from someone else.
[21:33:08] sbchamp27> I know another person who paid a birddog $10,000!
[21:33:33] GreenGhost> you have an agreement with person 1 - he tells person 2 - person 2 buys/rehabs - person 1 never pays referral fee
[21:33:42] rion> i have gotten lots of money from my investors with no contract never been screwed yet
[21:33:46] sbchamp27> You get paid at closing, when the deal finally closes.
[21:33:55] furiousinc> GreenGhost, you sound like a shyster
[21:34:01] GreenGhost> that's cool'if you guys are doing it out there...
[21:34:06] sbchamp27> lets keep it clean.
[21:34:10] Signoff: Cairns (Ping timeout for Cairns [12.81.128.200])
[21:34:27] realestateprofit> ok ok ok....what's holding you back GreenGhost...I sense some apprehension?
[21:34:28] rion> you need trust in this businss
[21:34:43] furiousinc> You need trust in all business
[21:34:43] Tim-Dallas> do you pay cash for bird doggers or the back end after sales if its a percentage
[21:34:44] DK> GreenGhost - you'll know the second time it happens to you. So you lost a chance at a few hundred. Don't work with that investor again. Most investors want to keep getting the deals from you, so they won't screw you.
[21:34:55] GreenGhost> I'm not just a bit skeptical of spending hours looking for good deals only to have the investor never make use of it or never come back to you when he does close the deal
[21:34:57] rion> true that
[21:35:09] sbchamp27> ditto, DK
[21:35:18] eaglemount> Mr. Locke, I am interested in ordering your "Big Bucks Bird-Dogging" e-book to train others to bird dog for me. I want to market to anyone in the Chicagoland area who would like to make $500 or more anytime they want. It seems as though you are the only one who has spent any effort focusing on the in and outs of bird-dogging. Muchos Gracias!!!
[21:35:19] furiousinc> that is understandable Green
[21:35:20] johnlocke> Green Ghost what is your method of investing
[21:35:33] rion> if he screws you dont give him any more
[21:35:51] midmomike> reputation means alot ...you can recover from an investment mistake..not so easy with a bad rep
[21:35:51] johnlocke> eaglemount thank you for your support
[21:35:53] tanner> Does anyone know an avg % BDs get? Or is it all different. Don't investors have to sign a contract before you find one or give them properties?
[21:35:53] furiousinc> Eaglemount, I bird-dog in chicago
[21:36:10] realestateprofit> could always do a semi interview with the person over the phone just to see what kidn of character he is....probably wold save a lot of time fo ryou
[21:36:12] GreenGhost> I've owned several rent homes for about 8 years but recently I am new to these new ideas - I'm in learning mode that's why I am asking questions...
[21:36:16] sbchamp27> It depends on the deal. when you know you have a killer deal, you can request more.
[21:36:18] johnlocke> Yes you have the investor sign an agreement
[21:36:32] gregory> a long term investor isnt going to srew you as a b-dogg because he or she no's you will keep finding them propertys
[21:36:37] coolbrez> if you are worried about collecting a fee, find a cash partner and do the deal yourself
[21:36:49] HoGiHung> I don't focus on the %. I tell all my investors, a flat fee of $500 for now. As I prove my worth, we re-negiotiate
[21:37:05] al> coolbrez is correct
[21:37:05] johnlocke> Very good HO smart move
[21:37:26] DK> Not to mention that reputation means a lot in this business. Word gets around. If you find your investors at REI groups, it's less likely you'll be dealing with a sheister.
[21:37:34] sbchamp27> As John says in the BirdDogging ebook, this is for those who, for whatever reason, don't feel comfortable doing the whole thing.
[21:37:35] tanner> So if you find him 10, will he up it himself, or will you ask for more
[21:37:39] johnlocke> There is nothing I know of that is not negotiable
[21:37:46] sbchamp27> This is a great way to learn the business.
[21:37:51] gregory> finding propertys for others isnt going to make you alot of money you should try to buy them your self
[21:38:10] rion> it takes money
[21:38:23] sanderso1019> it depends what you consider alot of money
[21:38:25] HoGiHung> I think maybe some people misunderstand bird dogging and might just be looking for a quick buck
[21:38:30] johnlocke> Some people may never want to go beyond bird dog status this is OK they are still part of the industry
[21:38:44] Cairns> awwww rion...it takes creativity
[21:38:54] rion> and money
[21:38:59] HoGiHung> u can make nice cash. one of my investors wants me to find 10+ props per month
[21:39:02] gregory> i found 2 deals back in sept of last year a bought them for $1.00 each
[21:39:07] rion> someones money
[21:39:07] johnlocke> Other Bird Dog will continue on with a investing career
[21:39:10] HoGiHung> assuming i can find 10+, that is 5k a month
[21:39:29] johnlocke> Ho find um
[21:39:43] rion> ho where you live
[21:39:48] HoGiHung> hehehe, i'm trying john believe me!
[21:39:50] DK> John - how much of your new book talks about actually FINDING the properties? Is it primarily bout the mechanics of bird dogging, or does it focus a lot on strategies for finding?
[21:39:52] HoGiHung> Jax Florida rion
[21:39:52] rion> i could use ten
[21:39:55] furiousinc> there you go Ho, my goal is 10 a month
[21:40:04] rion> o crape
[21:40:14] sbchamp27> John, a/b sub2 and the LSC, I make payments to LSC to the seller until I get the house sold, correct?
[21:40:18] al> buy the book it's a grat value
[21:40:21] johnlocke> The book shows you how to market and advetise for the properties
[21:40:24] al> great
[21:40:45] Tim-Dallas> any bird dogs here from Dallas?
[21:40:47] hasspoken> Ho, what do you think about Tallahassee?
[21:40:56] johnlocke> LSC gets the payments then they pay the bank
[21:41:07] blueswarrior> i am from dallas just bought the book tho
[21:41:12] sbchamp27> yes, I meant bank. Thanks
[21:41:24] johnlocke> ok 27
[21:41:30] HoGiHung> I have not ventured there yet, though my biz plan forecasts Tall, Gaine, and Tampa
[21:41:42] eadsd> Any advice on finding an LSC?
[21:41:49] tanner> What goal would be good for someone who works full-time? 5+ a month?
[21:41:51] sbchamp27> When I sell, my buyer basically steps in and takes my place and pays the bank - and me!
[21:41:59] hasspoken> thanks Ho, mine does too :o)
[21:42:15] johnlocke> eadsd send me an email later we will help you find one
[21:42:22] eadsd> thanks
[21:42:26] gregory> john how do you find hard money lenders
[21:42:32] eadsd> Nice book, by the way
[21:42:42] HoGiHung> Go to your local REIA meeting. They are all over
[21:42:49] johnlocke> I go down to the casinos and look for Vito
[21:42:54] HoGiHung> LOL
[21:43:29] DK> John - always a pleasure to learn from you. Thanks for the time. I'll be buying the book. -- signing off --
[21:43:37] HoGiHung> John, if I may - I think some people might not get teh point of your ebook.
[21:43:44] johnlocke> No just joking find a mortgage broker, he should know some, they will work with you if you let them have a small piece
[21:43:47] realestateprofit> good night dk
[21:43:50] Signoff: eaglemount (Ping timeout for eaglemount [1Cust231.tnt53.chi5.da.uu.net])
[21:43:54] HoGiHung> If you are a newbie, and not sure where to start, chk out the bird dog book
[21:44:17] HoGiHung> I was skeptical I admit
[21:44:35] johnlocke> It is for the new person or investor who wants to train his own bird dogs
[21:44:36] HoGiHung> but after i placed my ad, for two weeks at about $150, and got over 30 phone calls
[21:44:48] Signoff: daven11 (Ping timeout for daven11 [c68.117.102.64.euc.wi.charter.com])
[21:45:03] HoGiHung> I was shocked. Even investors that I had not called back
[21:45:04] hasspoken> Ho, what did ur ad say?
[21:45:08] eadsd> HO, did you place an "I BUY HOUSES" ad or an Investors wanted ad?
[21:45:10] HoGiHung> yet kept calling
[21:45:19] eaglemount1> that's perfect for me johnlocke, that's exactly what I want to do.....
[21:45:20] blueswarrior> add for investors or to find sellers ho?
[21:45:20] HoGiHung> one sec, let me get it again
[21:45:23] johnlocke> How many investors get 30 calls ? not many
[21:45:38] sywong> haha
[21:45:44] sywong> real estate investor
[21:45:47] sywong> free up your time
[21:45:50] GreenGhost> In the Dallas/Ft. Worth area they now have BILLBOARDS with I buy houses and I buy ugly houses on it with a 1-800 number seems hard to compete advertising wise in large markets
[21:45:53] sywong> let me bird dog for you
[21:45:58] sywong> (ho's ad)
[21:46:07] eadsd> nice
[21:46:09] hasspoken> Green, Home Vesters?
[21:46:20] Signoff: tanner (Ping timeout for tanner [1Cust23.tnt5.chi15.da.uu.net])
[21:46:21] GreenGhost> some National Home something ...
[21:46:32] hasspoken> oh
[21:46:32] HoGiHung> REAL ESTATE INVESTORS free up your time for finalizing big deals - let me bird-dog for you. Call Ho at xxx-xxxx
[21:46:38] way_motivated> alrigh everyone, settle down
[21:46:38] josh_bobb> Just thought I'd quickly introduce myself. I'm a newbie from Anchorage, Alaska.
[21:46:41] johnlocke> There are many ways to get leads without billboards direct mail done properly works great
[21:46:51] midmomike> I buy uglier houses!
[21:46:51] sbchamp27> they are in Atlanta as well. They focus on ugly home, I focus on pretty homes. I hate rehabs and MOST contractors.
[21:46:53] eaglemount1> I like that ad HoGiHung...
[21:47:05] realestateprofit> whew...busy room
[21:47:07] GreenGhost> hehe midmomike...
[21:47:10] HoGiHung> If any jax ppl on board, let me know. I'm back logged thanks to the wonderful computer virus a week or so ago
[21:47:12] sywong> directed to whom john?
[21:47:17] johnlocke> Yes a tad busy
[21:47:35] tanner1> After I get everything out there and I het my first call, what's next?
[21:47:36] way_motivated> hullo all, sorry it took me so long john
[21:47:50] way_motivated> get info and caal your investor
[21:47:51] johnlocke> Way my man
[21:47:55] tanner1> Do I have prop pickout already?
[21:47:56] rion> whats dms
[21:48:03] HoGiHung> Profile the investor and find out his/her needs
[21:48:17] HoGiHung> Almost everyone of mine said this:
[21:48:18] Askasalesrep> I placed an ad and got so many call, The better business bureau called me.
[21:48:29] way_motivated> yo
[21:48:32] furiousinc> haha
[21:48:37] johnlocke> DMS is Demographic Marketing System the ultimate in investing
[21:48:39] HoGiHung> I want houses at 20-40k that I can sell at 70+ after fix up
[21:48:45] way_motivated> nice askasalesrep, what'd they say?
[21:48:48] Askasalesrep> They wanted to know what I was doing.
[21:48:54] HoGiHung> in these areas of town. I have cash. call me when ready
[21:48:55] rion> how do you do it
[21:49:03] realestateprofit> aka
[21:49:07] tanner1> So its better to go to REI meeting for leads, right?
[21:49:08] steph> don't we all!!!
[21:49:14] realestateprofit> how did your ad read?
[21:49:20] realestateprofit> share the success
[21:49:22] realestateprofit>
[21:49:23] Askasalesrep> Theym said over 70 people called them in two weeks about my ad.
[21:49:28] johnlocke> Yes go to the meeting to find investor advertise for them also
[21:49:50] yabadabado> yabadabado> can anyone out there answer a bird dog question for me? Do you advertise for them in the local paper?
[21:50:07] Askasalesrep> I buy houses!! I pay cash!! I take over payments!!
[21:50:08] way_motivated> yes, in the local paper would work
[21:50:17] HoGiHung> yes, scroll up. i posted my ad here
[21:50:22] way_motivated> what area are you in askasalesrep?
[21:50:29] tanner1> Yes How? Just your ad does it? Because sellers call you and you call investor?
[21:50:29] Askasalesrep> Oregon
[21:50:32] gregory> john what do you think is the best way to start making
[21:50:33] realestateprofit> nice
[21:50:40] realestateprofit> straight forward ad to the point
[21:50:51] eadsd> I saw seven different I BUY HOUSES bandit signs within 5 miles of my house
[21:50:56] johnlocke> Gregory making who
[21:51:14] eadsd> Is that a good pool of investors or a lot of competition
[21:51:28] way_motivated> eadsd, just competition you have to beat, don't use any voicemaile services, answer your phone perosnally
[21:51:40] eadsd> good advice.
[21:51:44] johnlocke> Sellers will talk to bird dogs before they will investors
[21:51:44] gregory> money in real esate if was new tomorrow
[21:51:55] eadsd> It also seems that I should go FIND the deals, rather than wait for them... yes?
[21:52:01] way_motivated> it good to build up your investor list
[21:52:03] eadsd> Farming, I mean
[21:52:14] mwm12> locke why will they talk to bird dogs first
[21:52:31] dshnaidman> How would you intoduce yourself to a seller if you are a bird dog?
[21:52:34] furiousinc> Why do you say that way motivated, building investor list
[21:52:42] GreenGhost> ya I am curious as well I;m sure an investor knows most of the answers
[21:52:47] tanner1> I not of fan of bandits, they all are too conjested here (Chicago) The ads all are the same too.
[21:52:54] eadsd> Ditto in Atlanta
[21:52:57] gregory> john if you was new to real estate what would you do tomorrow to start making money in real estate
[21:53:09] HoGiHung> John has a nice script in the bird dog book if I recall.
[21:53:15] eadsd> yes
[21:53:16] johnlocke> A bird dog is non threating they have a plan to help the person selling, their questions are to help the seller
[21:53:21] way_motivated> the bigger your investor list is, the quicker you can "dump" your inventory
[21:53:39] johnlocke> Yes their is a script when talking to the seller
[21:53:48] HoGiHung> good point way. I have over 20 in my list and they all want the same thing
[21:53:53] furiousinc> good point, I just wanted to hear it. I feel good because my investor is growing almost daily, thanks
[21:54:06] yabadabado> yabadabado> If I see another bandit sign in this area I am going to move. They are all over the place. The only thing that keeps me here is my letters are working.
[21:54:13] furiousinc> wow, HO, that is a big list
[21:54:37] eadsd> Advice on building the investor list? (in addition to going to REIA meetings)
[21:54:47] HoGiHung> this will sound odd, but i almost wish i was unemployeed so i could spend more time bding
[21:54:50] HoGiHung>
[21:55:03] HoGiHung> Place an AD in the paper
[21:55:04] way_motivated> yabadaba don't move, gotta learn how to do it where you are, then you can move
[21:55:07] GreenGhost> so quit...
[21:55:11] rion> now your talking ho
[21:55:20] hasspoken> HO, how long have u been in REI?
[21:55:31] Askasalesrep> Me to - Ho
[21:55:39] HoGiHung> Not long - 4 months
[21:55:41] rion> jobs get in your way
[21:55:46] hasspoken> wow@4 months
[21:55:49] visionary> Great point...so if someone HAS to have a job and wants to be FT in this biz..what would be a great job that would help you be a great BD?
[21:55:51] way_motivated> hogihung, if make a good monthly $$$$ flow bding, take a good look at your expenses and dump the unnessesaries and quit the job
[21:56:03] hasspoken> HO, you only bird dog?
[21:56:27] way_motivated> the good thing about birddogging is that you can work a normal J.O.B. and still do this without a large commitment of time
[21:56:33] way_motivated> just work it....hard
[21:56:34] HoGiHung> ok, just so there is no misleading on my part
[21:56:37] johnlocke> This is the great thing about bird dogging no pressure and you can start part time
[21:56:44] realestateprofit> Well folks. It's been a real pleasure. John, Joel, Way...furious and the other guys...thanks for sharing tonight. I want to network with as many of you as possible so that I can send leads collected from my website. Shoot me an email: realestateprofit@yahoo.com Good night everyone.
[21:56:45] HoGiHung> I looked at several wasy to get into REI
[21:57:03] HoGiHung> JohnLockes bding has netted me the best results to date
[21:57:06] way_motivated> nite......happy $$$$$
[21:57:13] HoGiHung> with the minimal cost
[21:57:16] hasspoken> gotcha@Ho
[21:57:33] HoGiHung> for $200 I got his book and 14 days of advertising
[21:57:44] mwm12> tanner are u still here
[21:57:44] sbchamp27> John, I will see you on the 20th. Thanks again. Everyone have a good evening.
[21:57:45] HoGiHung> I had investors calling me and have over 20 to choose from
[21:57:59] rion> you go ho
[21:58:05] johnlocke> 27 see you at the workshop
[21:58:17] josh_bobb> ho: how much does 3/2 go for in your area?
[21:58:22] way_motivated> nice, make use of'em
[21:58:39] gregory> what this meeting over
[21:58:49] HoGiHung> depends on area. nice middle america - 120k - 180k
[21:59:07] johnlocke> I want to say thank you to all who attended see you on the boards
[21:59:09] way_motivated> gregory, about bird dogging have any questions?
[21:59:16] eaglemount> thanks johnlocke....
[21:59:23] way_motivated> thanks john, i'll close up
[21:59:23] tanner1> Can we go ove the list again? I missed that part?
[21:59:26] HoGiHung> ty john. u rock!
[21:59:28] rion> thanks
[21:59:32] hasspoken> Ho, are there bandit signs everywhere in j-ville?
[21:59:32] gregory> why should a person b-d
[21:59:33] midmomike> thanks john!
[21:59:35] tanner1> Later John
[21:59:46] edmarjones> thanks John
[21:59:47] HoGiHung> yes, lots of bandit signs.
[21:59:56] visionary> thanks john
[22:00:01] joel> I would like to invite everybody back here Sunday night same time.
[22:00:10] jserris> thanks John
[22:00:13] mwm12> tanner
[22:00:16] hasspoken> i was looking in the newspaper there, there are quite a few "I Buy Houses" ads
[22:00:18] joel> Thanks for coming out for our focused Chat Sessions
[22:00:18] johnlocke> Good Nite to all it has been my pleasure $$Cash$$
[22:00:20] valeria> Thanks, John.
[22:00:26] furiousinc> Here is to you , CAsh
[22:00:26] joel> Thanks Johns
[22:00:27] sywong> nite
[22:00:28] sywong> thanks john
[22:00:28] way_motivated> gregory, it's the easiest way to build up $$$$ risk free so you can set-up your business properly and prepare for big deals
[22:00:30] hasspoken> THANKS FO MUCH JOHN!
[22:00:30] eadsd> Thanks John!
[22:00:36] hasspoken> ....SO
[22:00:36] joel> See you guys in the Forums
[22:00:44] way_motivated> later joel
[22:00:45] eaglemount> nice meeting the chicago area bird dogs, tanner1, mwm12, and furiousinc. I will definitely be in touch!!!!
[22:00:46] newton> nite
[22:00:48] tanner1> Do people look at those like me, and so all those people are the same
[22:00:53] visionary> BIG CLAPS FOR $CASH$
[22:00:54] gregory> what if i have access to money
[22:00:59] GreenGhost> nice site joel...
[22:01:08] eaglemount> YEA $CASH$!!!
[22:01:10] way_motivated> then skip bird-dogging and move right on up
[22:01:12] josh_bobb> Thanks for all the insight John
[22:01:23] tanner1> Peace I guess its time?
[22:01:27] JR_FL> Good evening all
[22:01:27] Signoff: jensensmith (Connection reset by peer)
[22:01:38] hasspoken> JR, where r u in Fl?