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Updated almost 12 years ago on . Most recent reply

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514
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Antonio Bodley
  • Alabama
28
Votes |
514
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Bird dogs at closings?

Antonio Bodley
  • Alabama
Posted

My bird dog is willing to work with me, but says my bird dog fee is low compared to what he could make doing bird dog for someone else. My price range for the homes I want to buy and in the area I want to buy is not extremely high, so my bird dog fee I am willing to pay is $500. He said most bird dogs doing the same thing he does get paid minimum of $1000. I have no problem doing that depending on how much profit I can make from the deal minus all the expenses including the transactional funding fee I owe. This bird dog has had issues getting his money from other investors and wants to be at closing. Is it even allowed to bring a bird dog to the closing? I never heard of such a thing, but he really wants to make sure he gets his fee when I get paid from the closing. This is the first bird dog that has ever requested to do this.

Most Popular Reply

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49
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11
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Kanise Kelley
  • Residential Landlord
  • Miami, FL
11
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49
Posts
Kanise Kelley
  • Residential Landlord
  • Miami, FL
Replied

when i was a bird dog, I was told $500. i don't know what his bird dog contract says but you should get a copy and read it over. a simple contract should say "i will give you this for this". his might say something like he wants a percentage of your proceeds if he's talking about a partnership. draw up your own contract that says "i will give you $500 for ..." and if he signs then he understands that's your price. otherwise he can work for the other investor he says will pay him more. usually when someone says something like that they're trying to test you. he kind of sounds like a new bird dog that wants to appear more experienced. just me, but as a good faith gesture i would let him come to the first closing and have him sit outside until it's done. if he's been burned before he's just making sure he doesn't get burned again. it may take a deal to build a relationship.

best of luck

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