Birddogs And RE Agents
To all current birddogs, what kind of relationships should I try to have with RE investors? They have the inside knowledge of sellers in distress or looking to unload quickly and I wanted to know what type of cooperation I can expect from agents. By the way, this site ROCKS!! :-D
:-D how do you become a bird dawg
investors are looking for honesty in property evaluations, not might be worth or inflated perceptions of value. they also want at LEAST 20% below fair market value in the properties you find.
the more information you can provide about the property the better.
Not all investor’s criteria are the same. The 20% below market rule does not apply to every investor or every investing technique.
To birddog, all you need to do is sit down with an investor who is out doing deals and get to understand what it is they look for in a deal and how you can be of assistances. The investor will tell you exactly what they are looking. If, however, the investor comes back with vague or nebulous answers.........run and find someone else.
The investor should be able to give you all the knowledge you'll need to go out and look for the things they want. They should also spell out exactly how you will be compensated. You should have a loyal and honest relationship with your Investors. You are building a business relationship, so treat it as such. This is a people helping people business. So help each other and you’ll both succeed.
Most investors will tell you that people looking to birddog come a dime a dozen...so you need to know what it is you want out of this business relationship. As long as you stay in contact with the investor and put forth an effort, the investor will do all s/he can to see to it that you both succeed.
Never assume that a property you have gathered information on, your Investor would not be interested in. Let him make that decision. Provide pertinent information about the investment. Investors do maintain a shopping list request from their Network. They will not divulge that information.
The key to a Birddog and Investor relationship is communications (both ways not one way). If you provide a property for evaluation have the Investor critique it for you. If it does not work for him - Why. What would have to change to make it a feasible investment.
What is not a good investment to one Investor maybe good to another. Therefore Network with many Investors.
Remember, what you are trying to achieve is moving up to Investor status. You will always be a Birddog. What you don’t want you will pass on (Assign or Flip).
All birddogs don't want to be investors...Some just want to be and stay a birddog.
As I said before, it is always best to let the investor know what it is you expect to get out of the business relationship.
Nebulousd,
Have you done your first deal yet? Last time we talked, I think you had not. If not, hang in there , you will get one under your belt soon. You have lots of great ideas for such a young man starting out.
Back to the thread, I think the ideas posted are great ones. Oddly enough, my first birdogs were other investors with too many irons in the fire to do all the deals they saw. Almost like a wholesale deal but not exactly.
Cute...
It's funny how I don't even know who you are, let alone remember when we talked. It's amazing how people will try to discredit and put others down to try to hype themselves up and look good.
I'm not going to engage in a pissing contest with you, so I'll be the bigger man here, because age is obviously not a sign of maturity.
[ Edited by nebulousd on Date 05/04/2004 ]
"nebulousd", are you daft? There is nothing in ricker's message that is trying to insult you!
His message is actually wishing you luck, and is complementary of your ideas.
I suggest you reread it again.
The guy does not know me, I don't recall ever talking to him, and looking at the date at which he joined the site, I know for a fact that we would have never had a conversation like the one he claims we had.
http://www.thecreativeinvestor.com/modules.php?name=Reviews&rop=showcontent&id=33
Why don't I just jump in here because I certainly know about bird dogs and doing deals.
nebulousd, I can assure you is doing deals and has done deals, as a matter of fact we are working on one together right now.
I will repeat not all bird dogs care to move into investor status.
Some of my orginal bird dogs have done well over 100 deals themselves, however they chose to move into investor status.
This will end any doubts about who does what.
John $Cash$ Locke
Neb, I just came back in this thread and saw your reply.
I am sorry if you took it wrong way. I may have confused you with someone else I had spoken to on the phone in central FL once. I thought you and I spoke a few months back and you had told me you were just starting out.
The other poster was correct as well. I was complementing you on your good replies. Sorry you misread it. My bad.