All Forum Posts by: Jason K.

-per previous post-

Sorry, I meant to copy this and respond:

"Howeevr, Is ee that you are talking about profit sharing --is that a good business strategy ? You can find cheap birdogger -- part time --students to do serach online, or buy motivated sellers leads-- may be cheaper --just a thought."

Well...

That's the thing. She won't put it under contract. We both will. (Or chances are I would, and add her name as a buyer) I wasn't referring to assigning anything, although I see where you're going.

What I was thinking is why can't we buy the house together? Me controlling 80% ownership, she 20%. And that puts her on the title as well, correct? (At least briefly if we orchestrate a simultaneous closing)

That way when we sell to our end buyer, she nets 20% of the profits, and I pocket the rest.

Now, the proper verbeage on how to rig it up on the contract, or how to do it -- I have no clue.

That's just what I came up with. I'd like to see someone put this mess into something productive :)

so therefore the BD is entitled to 20% of the profit after the closing with the end buyer. Does it work that way?

Example: Me and Birddog purchase home together that birddog found at an 80/20 ownership split. Purchase price is $100,000.

End buyer pays $110,000 and birddog and I split the 10K of profit. I get 8K, birddog (minority owner) 2K..

That way there are no fees involved -- no one is paying an unlicensed individual for sale of real estate -- equitable interest for both BD & myself.

thoughts?

Could I state in the purchase contract that Belinda Birddog is entitled to 20% ownership, and I get 80%. Then I can buy her out at or after closing? Would this cue a red flag after a few times?

I may be on the right track here, but am too newb to process it all.

:)

Is there an attorney that can put this case to rest out there? Preferably in Texas?

Thanks for the replies...

I don't think she is capable of putting it under contract that's the thing lol. And if she is, then she is doing my job, so why does she need me? They could make more if they found a retail buyer or rehabber.

I understand what birddogging is -- but if they didn't have an interest in me buying the properties that they find, why would they be doing it?

what if the birddog is a member of my LLC?

There must be a way that the birddog can assume an equitable interest in the property some how, some way. No?

The buzz word here is that I'm "licensed". I face much more risk than the common investor.

I find it hard to believe there is nothing I can do, to legally make it a join effort, and where I'm not paying a "fee," but sharing a profit. It's more of a partnership role, in my opinion. Not a "finder's fee" role. I'm not looking for a way around the law, that's why I want to know how I can comply.

Anyone else?

I've got a concern I need answered about birddogging. I am licensed.

1. As a licensed investor in Texas, what actions must I take in order to be able to pay a partner (birddog), where it is not considered paying an unlicensed individual real estate associated "commissions" or "fees". Must I set up a LLC? Limited Partnership? Please explain or PM me. I must also note that I am not acting as a realtor in this scenario, and am just wanting to reward & split my earnings with my partner/birddog.

In essence, at what point can birddogging become ethical and legal, and not get me into trouble waters?

:oops: