Spotters Fees…..

Has anyone done this before?

-yes, me, I’ve written quite a few posts on it on various bird dog threads, have a search using the search function

-Are there any legal obligations?

yes, I’ve explained elsewhere how I do it, but others say it is illegal here without a licence, etc etc depending on how you define what a ‘bird dog’ does. I define it as someone who finds and presents deals to investors for a fee.

-How is the transaction of cash for information -done?

two consenting adults who agree, basically! you find someone who wants to pay you for the ‘information’ you have, and invoice them, then they pay you in the normal ways (bank transfer is how we prefer it, because it’s the quickest to confirm)

Your problems might be, how will they know if they want to buy the information until they’ve seen it? If they see it ‘on spec’ will they then be able to find the deal and cut you out of it?

-What is a reasonable fee for finding property?
It so depends – depends on what you are offering for your service compared to what others in the market are offering for theirs.

richmastery charge 3995 – 4995 but offer a lot of due diligence for their trouble.

cheers-
Mini

joy to the world

Hi Mini,
For the spotters fee do you (or bird dogs in general) offer some kind of written report detailing info regarding validated current rental returns, vacancy periods, etc?
Cheers darl,
kind regards,
Gatsby.