Goshen, KY · Member since 2009 · 835 posts · 683 votes
I have never used birddogs before, but I know a lot of investors have. Other than Cragis list or your local investors group, how can you find a good birddog? How much do you pay? Some say they pay a flat amount and some pay a percentage.
Real Estate Investor · Kalamazoo, MI · Member since 2010 · 681 posts · 241 votes
16y
We use birddogs all the time. We pay a percent of the profit, based on the work that they do. Obviously we pay a bigger percentage if they get the paperwork from the homeowner, etc. than if they just give us a name and phone number.
We have a 5 page letter of agreement with our "birddogs" which spells out what we expect, what our responsiblities are, what the compensation is and how it's paid. In addition, our birddogs are kept in the loop with a weekly update on the status of the short sale. I agree that trust is important, but I also think you need to have everything in writing. Along with the letter of agreement, I get a W2 so that I can 1099 the Birddogs at the end of the year. The agreement clearly spells out that they are an independent contractor.
Communication is key. We take good care of our "birddogs", and have even surprised them with an occasional bonus.
Hi Jackie - I understand this is an old thread but do you have a contract that you are still using as described above? I'm looking for a contract to use with investors and any help you might provide is greatly appreciated.
Interior Designer and Home stager · Austin, TX · Member since 2016 · 40 posts · 14 votes
10y
@Maryann L. Do you happen to have a sample of that contract? I would love to look over it and make the right changes to ensure that I get paid in a timely manner as well.
Indianapolis, IN · Member since 2016 · 13 posts · 9 votes
8y
Hello, learned some great info from this thread no matter how old it is! I’m just starting out and if someone could also PM me the bird dog contract, I would be very thankful!
Hi I am new to this and I'm trying to be a Bird dog I live in Dallas Texas I already have pictures and address of house that many invester may love to see if any one can point me in the right direction or who would love to work with me so I can take care of my family and get closer to my gold if you can please contact me at my name is Stephen Denson thanks you so much
Wholesaler · Portsmouth NH · Member since 2019 · 208 posts · 95 votes
1y
Investorlift is a way to find BirdDogs, it's essentially where a lot of the off-market deals are posted. So, feel free to explore it. Regarding paying them, it's either a flat fee or a percentage.