Question To Those Looking For Bird Dogs.
For various reasons I have more and more people asking me if I know someone who is looking for a bird dog.
BUT these people have little to no experience in real estate. To those of you looking for bird dogs do you supply the training to even those who have NO real estate experience?
Thank you in advance.
Yes!
what type of training is required to drive a neighborhood looking for vacant properrties in need of repair?
I would tend to let a bird-dog know what type of property I am looking for, and what information I would require, however I would expect them to train themselves. I hire a bird-dog because I either don't like to do that, or I'm too busy to do that, or I want an additional set of eyes out there spotting properties for me, and I'm willing to pay for that information/leads.
I wouldn't just leave them out there hanging. I'd steer them to some sources of information, and towards some training materials, and I'd answer questions for them, but they're going to have to produce on their own.
They are their own boss, and can represent other buyers as well. I won't take a personal stake in their training for that reason. I would train an employee, but I don't need any of those right now.
well ... yeah! i'd show someone the ropes real quick to know how to help me out best. it doesn't take much to drive around and write down addresses on vacant homes, but i prefer if they do some real work - to be the most valuable to me and others they'd help.
i'd show them how to find owners names and recent contact info for those homes, which makes them incredibly valuable and i'd pay accordingly. i can drive myself! hahahaha.
Jackman,
I agree with you, to a point. Some people want you to spend alot of time with them, teaching etc., and never get off their rear-ends and go find houses. Waste of time for the investor, big time.
The information that I said that I'd refer them to, would explain the how to's of what they'll be expected to do, but I expect them to read the material themselves.
Birddog Bootcamp is held Saturday morning at 8 o'clock sharp.
Takes about 2 hours.
Lotsa pictures of the kind of properties to look for and what kinda questions to ask the neighbours etc.
Assignment: Go back to the area where you live, and list the properties you think that meet the criteria. Get as much info "off the street" as you can. Here's my cell#; if you see anything that you need to talk to me about...Do call!
Otherwise we meet again next saturday at 8 AM sharp to evaluate what you've got. Would you like another cup of coffee before you leave?
...it works fine for me...
[addsig]
very true jeff, however, time spent teaching someone who really wants to do it, isn't a problem for me. i waste time all the time, to me it's part of the biz, so i'd rather waste some on trying to help someone start out (and potentially become invaluable to me). of course, i'm basing this on my own ability to "read" someone, assuming i can pick the go-getters from the not-so-enthusiastic ones! haha. but who knows.
The first time I ever used Birddogs I call them Real Estate Analysts. I ended up with about five. Each lived in the area of interest in Los Angeles County. Each got a list of the Notice of Defaults for his area and they ran them. On each NOD they noted what occured, what contact and what the property was like. Quick little notes and if it was a happening then a Polarid Picture. They came into the office every afternoon at five and I had a desk with a slot in it. I sat in the slot and they all sat around. They presented their NOD slips, a copy was made of each one and the original returned to them and we discussed, suggested etc. etc. Their job was to see if the property could be bought, or a new refinance done, or repair work whatever. They received 10% of the house profit and all NOD files were open to them. They could come in and go to the NOD files look anything up. They also ran on For Sale By Owners, Vacant properties and those that looked like the tenants were beating up the landlords. We had a lot of those.
When they had a lead, either myself or one of the annointed Brokers went out with them or met them on the property the following day. We either bought the property, listed the property, remortgaged the property, whatever.
I ran it like an Agency desk with operatives and the system worked pretty well. Sometimes we would double up on the run so that another Analyst could get a little experience in something that he or she was not too experienced in. It worked well. We advanced running costs, bought cards, did mailings and handled all correspondence. It was a lot of work but profitable at that time. Most of the Analysts went on to glory. It was a good spot to break in and decide which way you wished to go. Investor, Broker, and or Appraiser, Mortgage Broker and a few into Syndication.
Question, why are not most of you running on the multiple and commercial properties. Lots more money per transaction and you are dealing with business type people who understand all the paper shuffles. All day long I see opportunities for assemble. One listing surrounded with vacant properties etc etc. damn seems to me most of you are killing yourself when the biggys and goodies are just sitting there.
Thoughtfully Lucius
Lucius,
Great post. Let me ask you a couple of questions though:
How long did it take till you could see a return on your investment of time and materials (cards, etc)?
Would you let people weed themselves out or did the peer pressure of the group do that?
Since it seems that you have experience with bird dogs, what is reasonable to expect in terms of production?
Thanks in advance for your time and cooperation.
GA_John