What are the Birddogs charging their investors?
I've seen 10% of the profit, 1% of the sale price of the property, and minimums of $500. Just curious what most of you are charging. 
I've seen 10% of the profit, 1% of the sale price of the property, and minimums of $500. Just curious what most of you are charging.
you charge what the market can bare.
If you make yourself a valueble resource the investors can not live with out, you can charge more.
If you have deals that take a lot of time for investors, or fall through ofter, etc... and investors can do with out you, you can not charge much
BB,
Glad to meet you.
You do not get paid normally until your investor closes the deal.
A minimum charge would be $500 or 10% of the investors profit, there are variables but this is the average.
The highest Bird Dog fee I paid was $25K, so learn who the pro investors are from the wannabe investors.
It is hard to set a price on a really good Bird Dog, so learn your profession well and learn who to deal with concerning investors that contact you. The part you will like is investors will be seeking your service.
Welcome on board this board, you will recieve plenty of help here at TCI so ask away.
John $Cash$ Locke
Thanks guys, I was just looking for an average so I know a place to start.
My advice to you is to be firm about your price. You bird-dog service is your busines. If you sound wishy-washy, people will assume you are not worth the cash. Speak with conviction and watch the gates and red carpet of REI success roll out in front of you.
Just my thoughts....
[addsig]
I have a contract with one investor for a $500.00 plus 10% of the profit. He faxed it back to me the same day! Is this high enough? I don't know , but after I give him successful leads, I will see what the market will bear...
Good Luck,
Bginvestor
Hi B,
I charge a variable level depending on the intensity of service I perform for the investor...i.e. if the investor just wants an address and picture, that lead costs a flat fee of $75.00 + 5% of the total purchase price should the investor decide to purchase...if not I still make $75.00 for the lead. My time is valuable. So the largest part of my fees rests in the amount of time I spend on the lead...Hope this helps...You may visit my website to look at my fee schedule if you wish.
~Hunter <IMG SRC="images/forum/smilies/icon_cool.gif"> [ Edited by EstateHunter on Date 03/03/2003 ]
Quote:
On 2003-03-03 13:49, EstateHunter wrote:
Hi B,
I charge a variable level depending on the intensity of service I perform for the investor...i.e. if the investor just wants an address and picture, that lead costs a flat fee of $75.00 + 5% of the total purchase price should the investor decide to purchase...if not I still make $75.00 for the lead. My time is valuable. So the largest part of my fees rests in the amount of time I spend on the lead...Hope this helps...You may visit my website to look at my fee schedule if you wish.
I guess a lot depends on how good you get at finding deals and how much effort you put into each lead. I guess the fee can vary if you're just finding a few details on the property or if you're jumping through hoops for the investor.
Quote:
On 2003-03-03 14:16, BB wrote:
Quote:
On 2003-03-03 13:49, EstateHunter wrote:
Hi B,
I charge a variable level depending on the intensity of service I perform for the investor...i.e. if the investor just wants an address and picture, that lead costs a flat fee of $75.00 + 5% of the total purchase price should the investor decide to purchase...if not I still make $75.00 for the lead. My time is valuable. So the largest part of my fees rests in the amount of time I spend on the lead...Hope this helps...You may visit my website to look at my fee schedule if you wish.
I guess a lot depends on how good you get at finding deals and how much effort you put into each lead. I guess the fee can vary if you're just finding a few details on the property or if you're jumping through hoops for the investor.
Exactly, that's why it makes more sense for me to also include my time in the cost factor.
Hey Estate Hunter,
I like the idea of getting paid for your time, but how are you doing with the 5% of the purchase price?
Do you have many takers? That seems a bit steep. Maybe I am nieve.
Just curious.
[addsig]