Investors That Work With Bird Dogs!

Bird Dogs, Wholesaling
1

I was curious to know if anyone has any suggestions for making sure you get paid by Investors for leads/deals you provide them that they can close. I understand you may have the occasional unethical client but how can you seriously keep up with Investors that close deals AND make sure they pay you too??? I’ve had this one on my mind for a while now. Any suggestions are welcome. Thanks
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2

If you’re working as a bird dog, part of what you do should be tracking all the leads you give to people. Then follow-up every couple of weeks until they tell you they aren’t buying it or have closed. I don’t know how else you would expect to get paid.

3

Other than putting the property under contract in order to wholesale it to your buyer. The other option I know of is having your buyer and seller sing a non-circumvention agreement. Meaning that legally they can not cut you out of the deal.

4

I only whosesale deals I have under contract. Remember, he who holds the contract, holds the money. My buyers sign an assignment of contract and I make sure I am put on the Hud so I will be paid at closing with all other disbursements.

5

Hi Aithne,
Could u plz apprise me how u do the assignment of contract.
Thanks
Jim

6

Simply type up a contract that states you are assigning all rights of the contract to your buyer. The contract should state all terms of the original contract must be kept. Put your assignment fee on there and how you are to be paid and then get the buyer to sign it. Once that’s done, move on to the next deal until closing when you collect your check from the title company. Be sure you state in the contract you have no obligation to the contract any longer. You don’t want the seller coming back to you if your buyer falls through. Also, make sure you have a backup buyer or two. You don’t want to be left stuck if your buyer can’t close. Especially in a foreclosure situation where you likely won’t have tome to shop it around again.

7

Thanks very much
Regards,
Jim

8

I read something that spoke of using the assignment clause.

9

Thank you for posting this question. I was wondering the same thing. This was very helpful.

ML