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?
What mistakes have you made, so we’re not covering old ground?
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.
Rando
I suggest following up with the property owners that you have submitted to the investor to find out what the outcome was.
always have a contract between you and your buyer. Do you have advice as to how I can find a bird dog?