I’m attempting to craft a “Non-Compete/Non-Disclosure” agreement for use when presenting deals I find to prospective investors. Any/All ideas for safeguarding my efforts would be appreciated.
We’ve had several deals snatched out from under us due to some pretty stupid mistakes we’ve made; other than preventing making those same mistakes again, what recommendations would you offer someone new to birdogging for profit?
Interesting Topic. I get asked all the time by my prospective bird dogs, “How will I know if you buy one of the houses I submit and you never tell me”? I tell them it would be easy to cheat you and you would probably never know, and if you did find out, theres prob nothing you could do about it. I always hear some sort of gasp.
They usually respond by saying, "Then why would I want to work with you?
I tell them to consider this. What if word got out that I cheated my partners, would anybody want to work with me? And, it’s in my best interest to pay you, Why, because if I gave you a healthy chunk of cash you will be working ur assets off to find more deals. I also sign a partnership agreement with some of them, if they ask.
Useally that eases their mind somewhat. But even then 90% of the applicants don’t even get started.
Maybe 1% will make a good effort and send me lots of address of vacant junkers.
The bird dogs I have done deals with are my friends for life, and I use them as references.