Huntsville, AL · Member since 2014 · 36 posts · 3 votes
I am new to REI and I'm thinking about starting off in bird-dogging. How is a bird-dogger guaranteed to get paid if they don't have a property under contract? I would imagine it is easy for a buyer to take the lead and make the deal with the seller behind the bird-doggers back. What do you guys think? Thanks.
Investor · Salt Lake City, UT · Member since 2013 · 138 posts · 21 votes
12y
@Lawrence Walker - There really is no guarantee that you will not get cut out of the deal. In my opinion, bird dogging is not a great way to learn unless you are working directly with a mentor who will let you in on the negotiations and how to put a deal together. I think you would be better off educating yourself and putting the property under contract yourself.
It is just that easy. You really have no recourse, as in many states this may be seen as brokering requiring a license. You have pro-bird dogs and those against. I would just get the property under contract and then assignment it. That way you know you will get paid.
How is a bird-dogger guaranteed to get paid if they don't have a property under contract? I would imagine it is easy for a buyer to take the lead and make the deal with the seller behind the bird-doggers back. What do you guys think? Thanks.
To answer this question Always have a property under contract Before you market it! Not only to keep buyers and other wholesalers from stealing your deals but also because it's acting as a broker if you don't have a contract. Having the contract in place is what makes wholesaling legal (in some states). It gives you equitable interest and something that bind the parties or a meeting of the minds.
Huntsville, AL · Member since 2014 · 36 posts · 3 votes
12y
It seems that bird-dogging is a good option for some or a waste of time to others. I guess it depends on their experience. How a bird-dogger got paid was always a loop hole to me. Thanks for the responses.
Investor · Salt Lake City, UT · Member since 2013 · 138 posts · 21 votes
12y
@Lawrence Walker - There really is no guarantee that you will not get cut out of the deal. In my opinion, bird dogging is not a great way to learn unless you are working directly with a mentor who will let you in on the negotiations and how to put a deal together. I think you would be better off educating yourself and putting the property under contract yourself.
I have a vacant house program where I pay my birddogs $5.00 per accepted lead. I provide specific criteria of properties I'm looking for and the birddogs submit the requested property info and pics through my website.
If my birddogs are doing well I will increase the rate per accepted lead and eventually move to paying a % of the sale.