I wanted to get into Bird Dogging I just had a couple of questions:
When you call the “We Buy Houses” signs or ads, after you ask them questions about what they are looking for price, equity, etc… how do you ask them if you can Bird Dog for them?
Is there a contract you fill out between you and the investor?
Say you show the investor a property and they say they don’t want the home, but then end up buying it not letting you know. Can they do that?
An when you actually call up investors what are the questions you want to ask them?
Thanks
First learn how to find properties that are great deals. That alone will take you a year. Then once you have a super sweet one (that you can’t do with family or friends) then approach an investor or agent that knows investors. You can write up a simple contract that protects you.
Here is an example of a few lines off the top of one of mine. I wrote it myself.
The following overview of terms are to provide legal protection to insure fair compensation in return for specific information, leading to the locating and securing of real estate for purchase. The information being provided is strictly confidential and may not be discussed with anyone other than between the persons named below. … agrees to provide information to … regarding the properties. All agree to the terms as stated herein…
In lay speak…the investors agree to pay me x $ for this lead or EM agreement…blah, blah, blah. If they buy the proprrty
during the next year, then I still get paid x$.
Create your own along with an attorney to edit it!! Do not sign contracts without having an attorney review until you are more experienced.
jim
the house buyer
bend, or