Birddog Question
My partner and I are investors on Long Island and are looking to partner up with birddogs in this area. We would like to create win/win situations, however, we are not quite sure what fair birddog fee's are (or how they work). Any insite would be greatly appreciated!!
hi jbrite,
if you want to create an win/win for birddogs, you can go at two ways. first, the traditional fees of approx $250 to $1000 per after sale. second, peform a 60/40 split with the birddog after sale of property (if flipping). with the birddog getting the numbers and contact info, finding the motivated seller, you getting the property under contract and having the birddog invest a little money in the marketing the property (i.e., newspaper ad, bandit signs, flyers, postcard). after the property has been sold or flipped to another investor, give the birddog 40 percent of your sale. I usually perform this process with birddogs in other states for motivation and educational purposes since I don't live in their locales. I hope this helps a little bit. you can always pm me at anytime. I was born and raised in New York and a proud graduate of New York Institute of Technology in Old Westbury. thanks. happy investing.
[addsig]
The Care and Feeding of Bird Dogs.
Sept. 11, 2003 by Lufos.
We utilized a fee of 10% of the profit gained by the employing company. We had an open file policy and all deals generated by Real Estate Analysts were in that file with no lock. Everybody could check it. They had a constant daily job to run Notice of Defaults in their assigned area, and to look for and find other properties that might be listed, bought or, in some cases, gain a color of ownership in exchange for making them marketable. Then sell them. As they became more skilled they progressed to assembledge and many small shopping centers and other commercials were put together.
It became in time an entry level into the field of Real Estate, Some graduated to Broker level, some became Builders or Developers. Some turned into paper merchants and a few produced films based on the structure they learned as they did Syndications and Investment Groupings.
They were smartly attired, wore ties and carried cards which described them as Real Estate Analysts.. Shoes of course were optional.
Lucius