Bird Dogging for $'s

I’ve scanned some of the forum entries but didn’t see anything covering, How much most real estate (R/E) investors will pay Bird Dogs to locate properties?

I remember 15 years ago R/E investors were paying $500 to Bird Dogs. Gas was around $$.99 to $1.25 a gallon. This past week I saw a job ad from an investor needing a Bird Dog in my area and he’d pay $500. Today gas ranges from $3.00 to $4.00 a gallon. Car repairs have more than doubled. Now you’d think with inflation, even in this down market R/E investors would be paying $750 to $1,000.

Can any of you (real) R/E investors who use Bird Dogs shed some light on what you pay a Bird Dog?

I’ve been unemployed for over a year now with no job prospects in sight. Do you think it could be reasonably possible to earn $4K/mo every month Bird Dogging in a midwest city metro area?

im midwest and the investors i know and run into all pay a range between $500-$2000 all depending upon the deal… i think you could possibly earn 4k a month you’d have to be birddogging for more than one investor ofcourse but its very possible :beer

Yes it is possible. I personally turn some of my more motivated bird dogs into partners and share all my insights and split fees 50/50 depending on the deal. Most investor won’t do this out of fear the person will do better than them. That is exactly what i am after and because I take the time to build a relationship the person becomes a great partner and assets to my business.

Well said. I am willing to train as there is plenty of opportunity for everyone and not everyone is motivated enough to seize it. Tjose that are, you want to keep them around.

I recruited a bird dog in a nearby town about an hrs drive away using Craig’s List. He found an old boarded up farm house on a huge 1/3 acre lot. its in an area that has grown up all around it with big executive type homes. He Found the owners name and number, took lots of photos, he got comps. He showed the house to potential buyers. When we got a serious buyer the bird dog located us a RE Attorney, took the documents to the Attorney and Title company, met with the sellers. Changed the locks on the doors. I feel guilty, AlI I’ve done was negotiated the price, found the buyer and drafted the contracts. I’ve never been to the house or met the sellers or buyers. Were splitting a $15,500 assignment of contract fee. This bird dog has found us more properties, I think hes motivated.

I pay my people $250 then again we get over 800 leads a week in my area and we don’t knock doors so we kind of have this down to an art.

Thanks for the feedback.

Figureditout doesn’t pay much, $250. Hopefully you’re not taking advantage of anyone. It’s costly these days to drive around. And, in the midwest when winter hits it’s extremely hazardous and time consuming. If you didn’t earn enough in the warm months you’d starve in the 5 to 6 winter months. I’m in the KC Missouri area and they don’t clear the snow off the roads very well.

If I could get 4 or 5 rehabbers to bird dog for I would work bird dogging full time. I enjoy the freedom of driving around.

I guess my next step might be to ask, “Who is interested in rehabbing homes in the KC area?”. In particular the suburbs and fringe rural. I know the KC area pretty well and know what areas to stay away from.

At this point a show of interest and later we can discus information you will need and fees.

Thanks for the feedback.

I also usually agree to split costs with the other person I’m doing the deal with. For bird dogs, I usually guarantee at least $500 on the deal but could be as much as $5000+ depending on the situation.

I work out of the Chicago area but teach interns how to wholesale all across the country as well. Virtual wholesaling is really starting to take my interest since I can do it all right from my computer from anywhere.

99.9% of our work is done over the phone and we get 700-900 leads a week. So generally on a good week the CSR’s that I have working will find 10-15 deals each so they get paid really well.

Wow, that’s some serious business your doing! I do 99.9% of my work through email. In my opinion, this is faster and has more of an opportunity for automation.

I am interested in bird dogging but was wondering should I have a agreement signed by the investor before I look for leads or is a agreement even needed ? Also, when do bird dog’s receive payment ? At closing or when the investor receives the lead ? One more thing is it possible to bird dog virtually ?

I don’t see a need for an agreement. I trust someone until they give me a reason not to. Then, I never work with the untrustworthy people again and they don’t get the option to work with me on deals.

If done correctly, bird dogs should receive their payment out of closing. I only pay bird dogs for leads I close on. That way, they have more incentive to find better leads and ultimately get paid more for their time.

And yes it is possible to bird dog virtually. You can search for leads on classified sites such as Craigslist and refer those. There are also many other methods that I won’t go into detail on.

Why not just pay them on a contingency basis, per lead?

I do pay them on a per lead basis, contingent on the fact that I actually close a deal on that lead. Is that what you’re referring to?