hi, i was wondering how many birddoggers/wholesalers actually use a contract for the finders fee? if now what percentage do you get burned?
The answer to this question comes down to how well you know your ultimate investor / buyer. As a bird dog it is important to protect yourself. Let me give you some examples.
I have probably bought over 500 properties that were brought to me by bird dogs. There are two types of bird dogs that brought me properties.
1 Bird dog which I have done tons of business in the past and they know I would never go around them. Bottom line, they know me and can trust me. There is never any reason for them to have me sign anythign ahead of time.
2 Bird dog that has never done business with me in the past. These bird dogs many times would have me sign an agreeement ahead of time just to protect their own interests. It’s not that they were paranoid or scared, they were just smart and making sure they were not going to be taken advantage of.
I will tell you the best scenario for you is to get to know your investors and make sure you have a good working relationship with them.