NEWBIE here so I have a question…I am starting a a “bird dog” and am looking to do this for several investors at a time. Are there contracts used or what. How am I to know if they end up buying the deal I find or not.
To be honest, it’s mostly about trust. Sure you can get them to sign a contract or something, but if you are bringing them good deals they will be stupid to not pay you for it. The reason…cause you’ll stop bringing them the deals.
Plenty of deals out there, if you get screwed on one, lesson learned and move on.
ok thank you I wasn’t sure plus I just don’t want it to seem like I don’t trust them
I have had some of my clients use contracts to start…but in most cases it doesn’t take long for them to realize that the contract can actually get in the way of good investors…
So I woulldn’t recommend them.
If you can bring good deals, meaning what they are looking for, the won’t do you wrong because they will need you to keep bringing them money :beer
But if you do get the short end of the stick…just stop bringing them properties. In my experience, though limited, most fellow investors are upfront and don’t mind you making money together.