Updated about 12 years ago on . Most recent reply
Bird dogging for seller
Hi, I'm working with a hedge fund that is buying properties that meet a certain criteria, I'm also working with a seller that has so many properties (30+) that meet that criteria. My seller though, prefers to work directly with the buyer, so what kind of bird dog/referal fee like agreement could I arrange with the seller to put him in contact with the buyer. Also what do you think is a good fee for this. Thanks - Jordan
Most Popular Reply
This is often discussed topic here, like everything else. Truthfully the search feature would probably find us an identical post like this with the discussion going sideways by two parties who aren't even the person who posted it.
What do they say, it's not "the" way its "a" way. Do what works best for you and how you feel comfortable working. We can debate it endlessly here but it won't change anything. You could be writing an offer or calling a lead right now instead... shoot so could I.
I always say I have partners who fund the deal, I find it they pay for it we rehab it. It also works to your advantage because you can get super creative with the seller from this. I am working a deal now where the seller will hold the property while I rehab and we will split any proceeds above an agreed upon price. This means I can flip a house without paying for it, only the construction costs and make the seller more money.
Million ways to do it, I see no issue with having a funding partner and I do think its a bit unfair how hard everyone is on new wholesalers here. Yes we all sucked at first and made poor moves and learned from them. But the fact is I don't like the idea of newbies being scared out of this business by all the fear that is placed on them by others. Go out, break some pots and do the very best you can to be considerate of the seller and you buyer. This is a learning process.