Real Estate Investing Forums

Real Estate Investing => Bird Dogs, Wholesaling => Topic started by: retlaw2005 on January 13, 2005, 05:43:18 pm

Title: How do I determine what to pay bird dogs?
Post by: retlaw2005 on January 13, 2005, 05:43:18 pm
Hey guys,

I am from the  detroit, michigan area and I am new to this forum. I am a REI newbie and I was wondering how do I determine how much to pay a bird dog? Do I go by the amount of potential profit?

A bird dog contacted me via email and asked me "what do I have to offer" and I don'e know what to tell them. I wanted to know what do newbie RE investors pay bird dogs for their services?

Walt,
 
Title: Re:How do I determine what to pay bird dogs?
Post by: catfish on January 13, 2005, 07:44:00 pm
Hey,

I'm new to the biz myself.  I got lucky two months in, and made $17,000 on deal where I took an option out on a house and sold it for $17,000 more than what the owner was asking.  Luck I guess...  

Anyway, Ron LeGrand says you should pay your birddogs $5 per lead--that meets your requested requirements.

I'm my own birddog at this time.  I want to flip a few and make some cash, before I tell my birddogs what I'm looking for.

I hope I was some help to you.  

Tim
www.knproperties.com
Title: Re:How do I determine what to pay bird dogs?
Post by: retlaw2005 on January 13, 2005, 09:08:24 pm
Hey catfish,

5 bucks a lead?? That really doesn't seem like much.
Title: Re:How do I determine what to pay bird dogs?
Post by: JerseyGirl on January 13, 2005, 10:31:46 pm
Well Ret

I think (I hope) that if a particular lead turns out to be something that an investor buys, the bird dog will get more

Around here in Jersey, I hear that being a bird dog pays from $250-$500 per purchased property

So if you bring the guy/girl 10 leads thats $50....if they buy the place, hopefully you get the $250/$500  ;)

At least thats MY understanding of it  ;D
Title: Re:How do I determine what to pay bird dogs?
Post by: retlaw2005 on January 13, 2005, 11:27:18 pm
Hey Jerseygirl,

Now I got it. That sounds more like it.

Thanks for the info.

retlaw2005
Title: Re:How do I determine what to pay bird dogs?
Post by: JerseyGirl on January 14, 2005, 06:47:55 am

Sure no problem  ;)