Bird Dog questions

[Jason Northup]

Hello all,

So I am attempting to get out there and bird dog for a few people. My questions are really, if I have 2 or 3 investors with similar criteria should I submit what I find to all of them? In a business sense the more people that look at the deal the better chance of someone doing it and me getting paid. On the other hand it may not be proper etiquette to do such a thing, and I may ruffle some feathers should they find out.

Also would calling bandit signs be a good way to find locals that may need bird dogs or do they normally already have a team for that reason.

[Jaremy Moritz]

I regularly receive calls from new investors wanting to bird dog for me, so here's my 2 cents from the other side of the situation:

Most bird dogs I've dealt with couldn't sniff out a deal if it was placed right in front of them. I'm not knocking bird dogs, just the so-called experts that claim to "teach" them how to find deals. There are so many people that want to learn the business and are willing to bird dog for the experience, it seems like every lame-*** guru has a product to sell so they can capitalize on the "frenzy". A lot of the "newbies" that call me are fresh out of some course or seminar and try to sell me properties that make no financial sense whatsover. I've had quite a few even tell me that my way of analyzing properties is wrong. From an active investor's standpoint, it gets very frustrating dealing with bird dogs that think they know more than me. Don't be like them, for your own sake.

I'd like to say I give everyone a chance, but the reality is that I've spent so much time training and retraining these bird dogs (and most of them never do a damn thing) over the last couple of years, I am very hesitant to even begin working with new ones. The ones that I do work with have been screened, trained, and kept on a short leash. Once they start bringing me crap, they are pretty much done. I'm telling you this stuff because you'll likely encounter investors that have had the same experiences with bird dogs as me. Don't let my comments discourage you, though. Just don't be like the idiots I mentioned.

Now, on a more positive note, you can definitely get a good education in real estate by bird dogging if you can latch on to some good, honest investors in your area. I was lucky back when I started investing and got to work as a buyer for an established real estate investor. Not exactly bird dogging, but pretty darn close. The knowledge I gained was priceless... everything from how to advertise to negotiations to rehabbing. Knowledge that has made me a crapload of money since then. I didn't make much working there, and you might not either as a bird dog, but the fun begins when you start doing your own deals from start to finish.

Bottom line, if you can find good quality deals as a bird dog, you should have no problem hooking up with solid investors to either buy them or wholesale them for you. If you really want to succeed, though, screen your potential investors like I do my bird dogs. The last thing you want is to take a great deal to an investor that screws the deal up and you don't get paid on it. Once you find one or two good investors, stick with them and give them first crack at your deals in exchange for them teaching you about the business. Remember, bird dogging should be a short term deal - only do it while you're learning how the process works. Once you've got it figured out, stop bird dogging for others and do the deals yourself.