I've had some of you sending me emails about how profitable bird-dogging works. Even some of you sending me deals without having the correct credentials to do so.
So, here is a little bit of a break-down on how this whole bird-dog or property scout thing works:
By definition, a bird-dog is someone who goes out to locate properties (mostly unlisted "pocket" listings) to hand over to an investors. And the bird-dog gets paid 1 of 2 ways:
Way #1: Getting a "referral fee" from the end-buyer, typically up to 3% of the final purchase price; this is generally paid at the close of escrow, sometimes before.
Way #2: Flipping the property -- through "paper reassignment" OR by buying then reselling the property to an investor -- at a higher price. For paper reassignment, this flip is done within 30 days usually. But for flipping, especially when using our sources for "extended transactional funding" PLUS our other money guy who can get you CASH FOR DEALS, you can flip your property in anywhere from a few days to upwards of a year. This means taking possession of the property, doing minor cosmetic upgrades (to get top dollar), filling vacancies, and THEN reselling the deal as a "turnkey investment" to hot investors.
Way #2 is the preferred and more profitable way in doing this business. This is how you will be able to make upwards of $150,000 to even much more than that each and every year doing this with only one or two deals per year.
So, now that you know the 2 ways (which are thoroughly covered in my BRAND NEW Hot-Off-the-Press 2018 Bird-Dog Bonanza & Opportunity System WITH the Opportunity Card) of making money as a bird-dog or property scout, let me address some of the questions/concerns I've been getting about this powerful and highly profitable system.
Question/Concern #1: "I live in Southern California (or a place where properties are over-priced with low CAP rates and no inventory...so fill in the blanks on any other place that matches this). If I have to live near the property deals, I can't do deals as a bird-dog, right?"
Answer: WRONG! If you do Way #1 as outlined above, you can live anywhere and find deals far, far away from where you live. It doesn't matter where the deals are because you're getting a referral fee for finding the deal. Now, if you plan on flipping properties WITH doing rehab of ANY kind then it's helpful to be near the property to help orchestrate such deals. But...is it necessary to live in the same area still? Nope. Even when doing minor rehab you don't have to live in the same area of the property deal unless you plan on doing the rehab yourself which isn't recommended anyway.
Question/Concern #2: "Can't I just send you a deal and get paid a bird-dog fee without being part of your Bird-Dog Bonanza & Opportunity System with the Opportunity Card? If so, I'd like to send you this link from Loopnet on a deal I just found for you and you can send me a referral fee for it!"
Answer: No, NO...and F*** NO!! You cannot just simply send me a deal -- ESPECIALLY a freaking Loopnet or other online MLS listing -- and expect me to pay you for it. It's like you knowing that I'm in the market for a new car so you send me a link to my local dealership that you found online. And expect to get paid for it. That's just not how things happen in the real world, Bubba. This is the main reason that I REQUIRE my students to get the Bird-Dog Bonanza & Opportunity System. It's so you UNDERSTAND HOW TO DO THE BUSINESS without wasting either my or my investors' time. So you can actually get deals through our system and accepted so you DO get paid. And this is why only my Apprenticeship, Viper Wealth and Bird-Dog Bonanza students are ONLY allowed to submit deals; all of these groups of students understand how the process works, understand the deals we are looking for, and understand how to submit the deals. Without this basic understanding, you won't get anything accepted.
And as a SECOND note to the stupidity surrounding that question/comment, why would I pay you to send me a Loopnet lead when either myself OR my investors can find such a deal ON THEIR OWN without your keyboard and mouse-clicking wizardry to "help out" in the process of finding deals. There is nothing unique or special about being able to use your computer and internet connection to go to Loopnet.com or CityFeet.com to find deals. Sorry. But nobody deserves to be paid anything for sending an email with a Loopnet.com lead in it. And anyone who does needs their head examined for severe damage.
Listen, in MOST areas of the country real estate inventory on the commercial level is VERY LOW. So investors working their tight-niche areas already know EVERY PROPERTY listed on the MLS in their immediate property farming area. And in many instances -- myself included -- us investors know each property by heart including property address, amount of units, unit mix, and occupancy level for each property listed on the MLS in our farming areas. So...needless to say, you're not going to be bringing anything mind-blowing to the table if you tell me or my investors, "Hey, look at what I found on Loopnet.com." Guess what? We already beat you to it the second that property hit the MLS so you're not doing us any favors by doing the "heavy lifting" with your fingers on the keyboard.
You must bring something else to the table. Something better.
And here's how you're going to do that:
I have some incredible ways of finding deals that ARE NOT on the online MLS. And since the market is so tight -- meaning that inventory in most areas of the country is very hard to come by -- this will make you in VERY HIGH DEMAND as a prolific and successful bird-dog because YOU will know EXACTLY HOW to find deals while everybody else -- investors especially -- are scrounging around looking for deals day in and day out.
CLICK HERE and I'll explain how the rest of this process works.
See you at the top!
P.S. Here's another rockin' audio seminar I want you to listen to. You'll need about a solid 12 minutes to get through it and let me warn you: the best part of this is the story I tell at the end about the picnic table by the beach. CLICK HERE to listen to this ASAP!