BiggerPockets

I just closed a quick and easy birddog flip for a whopping $500!!!! I posted some details on my blog:
http://www.biggerpockets.com/blogs/692/blog_posts/3016-birddogs-pay-attention-to-investors-criteria

Great job Jaime! You just keep moving a long and giving us newbies a better feeling! Keep it up man.

Congrats, Jaime. It's a start!

Jamie, IMO, you should be charging more! Good start and do some more. I have a couple properties in San Antonio and I paid more than $500 for the privledge of having them. Good Luck. Rich.

How does one go about setting the bird-dog fee? Is it just common knowledge that it starts at $500 and some investors pay more, or as a bird-dog can you demand a certain fee and hope they don't cut you out? What has been your experience Rich? How have your bird-dogs approached you?

From what I can tell, it depends on how much you actually do for the investor. If you just find it on a list or driving down the street and send it over, the fee is not going to be very large. However, it seems to me that if you go through all the work of checking it out, tracking it, estimating repairs, negotiating the deal, and delivering all the paperwork ready to go into escrow, the fee would be much larger. (Somebody more knowledgeable please correct me if I am wrong.)

Reid,

Birddog fees are completely negotiable. I charged $500 on this deal because I spent almost no time on it. I have never seen the house. Basically, I forwarded a email. Normally, if I comp, preview, photo, market, inspect, contract, etc, my fees go up dramatically. Typically, my birddog fees range from $2,000-$5,000.