I have several properties that I am almost ready to take to an investor but I am not sure what is reasonable for a birddog fee. Is it based on the price of the house or just a basic flat fee? If just a fee how much does it vary from person to person? Any help would be appreciated!
Thanks,
Mike
Mike,
Since you are new to this dance and there are many steps to learn before you can Tango with the best of them, my suggestion would be to start out with the Waltz it is the easiest to learn.
When you start this way to build your reputation, I would suggest charging a flat lead fee of no less than $500, now this assumes that you are providing an investor with some very good leads. As you progress through the basic steps your lead fee can be adjusted as your reputation with investors increases to where Mike is the man to see for leads.
Remember it takes two to tango, so depending how proficient you become, your rates will adjust accordingly, just make sure you always lead. Watch those dips (wrong investor to do business with) they can play havoc on your back and wallet.
John $Cash$ Locke