Sorry, I’ve got some real estate knowledge and background - was even a licensed agent for a short time. - Birddogging was not taught in real-estate class!
What is Bird-dogging exactly? And when someone says “control property” what exactly does “control” mean?
Does any of this relate to the offer’s I get in my email: “I find the property - they pay for it, we share the profits?”
???
Thanks.
birddogs are folks who “hunt” out deals for investors for fee typically $500-$1000 depending on the investor.
control means you have it under contract (through purchase agreement or some other contractual vehicle) and have the rights to purchase the property.
I think the amount of money you make is a function of (1) the potential profit in the deal and (2) how far along in the process you’ve taken the property.
If you’re just passing on basic information and leaving the investor to meet the owner and negotiate a deal, then that might be worth $250 to $1,000, and of course this is payable only when a deal closes.
If you actually take the next step yourself and control the property with a contract, and there’s a lot of margin in the deal, you might get as much as $3,000–or maybe even more–for an assignment.
And of course, if you really have a high-margin deal (maybe something you’re retailing yourself?), you might actually do a double-closing and keep the entire spread between your contract price and your buyer’s price.
Howdy VickyS:
Control also means to own the property but not in your personal name such as a trust or Corp. A favorite saying is to control everything and own nothing. Creditors can not touch you if you are not personally the owner.
The partnership offers you get may be related to bird dogging as they are looking for partners and perhaps control of property in their partners name.