Bird Dog Fees
Can anybody give me an idea of what are reasonable and typical bird dog fees? If I do a considerable amount of leg work and get the info to an investor, what is a fair fee? A flat fee or a percentage of the profit? Do the payouts happen after closing, or when? Do bird dogs typically talk to owners, or just do general searches? Do you need a license to be a bird dog?
Thanks.
txboy
Rule of thumb, many investors use a formula... 65-70% of ARV minus rehab. Anything between that number and what you get it under contract for would be your assignment fee. So if the house has an ARV of $203k and needs $7k in rehab. An investor may be willing to pay $135k. So if you wanted to make $5k you would have to have it under contract for no more than $130k. Hope this helps...