I need to understand how people use birddogs to get “GOOD” deals. In my Area(DFW) people usually call me and give me muti-million $$ properties and not the one I want.
How can I find brid dogs that are concentrating on Single Family and Duplex units in DFW area?
Any suggestions will be appreciated.
DFW
Hello what area are you in?
Show them what you want, tell them what to say, and show them where to go. Give them a set fee or percentage of what you close. Eventually they will go on their own. Find more at that time. Have a system for teaching bird dogs and teach them how to be rich.
Yes, I agree. You must have a system in place for working with them. Birddogs will work with those they trust to actually close deals and pay them.
So, be prepared to show them exactly what you are looking for, what you want, etc. I even enable them with some forms to use. Leave behinds for properties, etc. All that point people to me.
If you treat them right, even if they want to do more than Bird Dogging, they will still come to you with deals they can not do themselves.
These are great suggestions. I agree with vuzilla in that you should try and teach them how to be rich. You can cultivate some great help, and they’ll be eager to learn and make you money. How you start using them would depend on where you are at in your investing. If you are already pretty successful and are looking to have people do the legwork for you, you can hire them as independent contractors, show them the ropes, and pay them a decent amount per close, say $2000 or so. If there are other investors in your area, call them and get a feel for what they are paying. For those that are doing it full time you can even offer $25 bucks a day for gas money. Give them some expectations to follow if you take that route; ie- if they are door knocking they should work from 3pm-7pm because they’ll catch more people at home, etc. I’d also suggest giving them a log sheet that they fill out as they are driving around and have them fax/email you a copy so you can track their progress.
First, just have them set appointments, and go with them to show them how to work the deal. After a while, once they understand what a good deal is and how to get it, you can give them the paperwork, some cards/flyers with their names so that they handle negotiations and all you do is verify and close.
You can email them a list of leads too (easy to do if you are buying foreclosures). I’m not sure what your resources are. A full time birddog should be able to get a deal at least every 2 weeks in a populated area, and $4000+ a month is enough to keep most people around.
Ultimately, they’ll end up leaving and doing their own deals, but not before they have helped you make a goof chunk of money.
Awesome way to get more deals though!
If you want to find good deals and only sfr’s and duplexes, only give them a list of people that have equity, have a sfr or duplex. If there aren’t that many, tell your bird dogs to keep hitting them until they get an answer. And if the answer is no, stay in rapport & hit them up (follow up) again every 2 weeks. They are a lead until it goes to auction. This way, you always have good qualified leads. Hope this helps.