How exactly should you go about finding people to do footowkr on finding pre-closures and door knocking for you? Also is it better to give them a percentage of a deal or a set kickback for every money making property they find?
I give them a percentage of every deal the best motivation is compensation! Remember if you do not pay them right somone else will!
Oh also sorry I only answered half of your post sorry about that! As far as finding people to do it go to your local rei club’s and see who is serious and who is not! there are all sorts of people looking to be a bird dog!
You must be careful how you compensate unlicensed people. In some states, it is illegal to compensate an unlicensed individual with a “commission.” Generally, a percentage is considered a commission. However, there is nothing wrong with providing a “finders” or “referral” fee to an unlicensed person. You can certainly base your “fixed” amount on the work or effort that they provide in helping you get the deal, but you may not want to have an agreement that you pay X% of the final price.
Also, don’t forget the power of compensation when it comes to strangers. Leave biz cards everywhere explaining you will pay CA$H for referrels that you close on.
Is it normal to advertise in the help wanted section looking for a bird dog? In your experience have you ever had any that had a problem not getting paid until a deal is closed (which could take 3+months)?
3 months WOW The longest it has ever took for my business to close a deal is 3 weeks somtimes we close in 24 hours! It is all about the funding!
money really isnt a problem at this moment as far as having enough to at least close a few deals. Just getting bird doggers? What type of method have you used to acquire bird doggers? ???
I am sure compensation/“referral” tips are not only what bird doggers want. I myself want to be a bird dogger in exchange for education on REI along with some “referral” tips. Now my question is how does one like myself who is interested in becoming a bird dogger find an RE investor who is willing to teach me?
I too am interested in working my way into the REI field. I don’t know the difference between a “Bird Dog” and a “Ground Pounder” but I do have the newest list of the tax foreclosures in my county and have researched a few choice ones. One guy (still living) has 17 properties that he owes a total of $11312.38usd. Some of these are corner lots in town, some are dives and some are not too bad.
I don’t have the money to invest but it just seems that one could do right well in this area right now.
So, what does one do to start learning from those who know?