As a real estate investor, you need to leverage your time to find more deals and stop trying to do everything yourself.
In this article we will explore finding and using bird dogs to find those sweet deals sitting out there ready for you to pounce on…
1. Where to find bird dogs:
The easiest way to get started is to use online ads and post under the Work From Home Section. You can also try:
Flyers – Colleges / Campus Newsletter.
Notices Board At Shopping Centers.
Ask Friends / Families / Co-Workers.
All you want to do is get people to open their eyes and pay attention when they see a for sale by owner sign or hear of somebody needing to sell fast.
Here is an example ad:
Make Fast And Easy Money!
How to make $40 per hour using your car and a camera!
2. How to pay your bird dogs:
You can do pay per lead, pay per hour, offer a small commission or a combo of all of these.
Example; $10 for a complete record (home owner info)
$5 without owners contact info
The better the enticement, the more leads you will get and the more deals you will close.
3. Train your bird dogs:
Look for people who will go the extra mile and look up all of this information:
– Property Address
– Owner Name, Mailing Address & Telephone Number (Use this website: www.findtheseller.com)
– Property Approx. Value
– Last sale price and date
– Repairs needed
– Take Pictures – all angles
Of course you would pay them more for all of this info.
4. Setup an automated recruiting system:
Have your ad drive people to a website. The website will prescreen applicants and explain the program.
They then call you. If after speaking with them you approve, send them to a training website that shows them how to do everything.
Really take your time and make some screen capture videos and explain everything in detail. A better trained bird dog will pay off 10-fold.
5. Choose the best areas for them to target:
Depending on your goals
– Fast cash flow – flipping/wholesaling – low/medium housing
– Medium cash flow – retailing – low/medium housing
– Long term cash flow – rentals / lease options – medium/expensive housing
Get map of county with zip codes – color code and assign bird dogs to areas you pre-designate or where you want to buy and sell real estate.
6. Other functions of your bird dogs:
After you get a few deals done, why not take your bird dog efforts to the next level?
– Have them assist with direct mail – like envelope stuffing, research, bandit signs.
– Create co-op mailing joint ventures.
– Bandit sign placement.
– Human Bandit Sign System.
– Recruiting other bird dogs.
7. Wrap up and the big picture:
When you implement this strategy on a consistent basis, you can add 2 to 4 people
per month to your team.
What could you do with 20 to 40 people hitting the streets looking for deals for you?
Do a lot of deals every month!
And if you ever need cash fast for that deal, please contact Mike & Mike with the LM2 Investment Group.