Hi all
Could someone please give me an explanation for the concept of Bird Dogging?
I pretty much know what it is – selling information on the location of deals – but I want to know is it an accepted practice and do many people actually do it>If any one has used the method of bird dogging before Id be jinterested to hear from you?
Rob
Please do a search on this forum for answers to your question, it seems to be asked alot!
My thoughts are that it is not legal to do without a real estate license! There are hefty fines in place for anyone recieving a renumeration for a real estate transaction without a license!
Hi Rob
From my point of view it would be a real shame to lose all the good bird doggers out there that are doing a great job for us investors.
Any suggestion that bird dogging is only possible if you hold a real estate licence can easily be overcome, if you put a Joint Venture Agreement in place between you an your client. Once you have a financial interest in the transaction you don't need the licence.
Of course, I'd suggest you talk this over with the solicitor who writes up your JV Agreements. Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Paul,
please send details about the Wrap Training Joint Venture, I like the sound of your thoughts on this.
I see the win-win when a Bird Dogger uses a JV aggreement to mitigate the licence issue. Does this means that the BDer needs to be putting into the deal or taking out (consideration).regard
Hi Guy
Usually the JV for bird dogging would be very simple. Something along the lines of:
1. Outline the undertaking
2. Quantify the profit share.
There are a number of solicitors that can write these up. Most Vendor Finance savvy solicitors are very familiar with JV's so may I suggest you do a search on this forum for a "wrap savvy solicitor" in your State. Alternatively PM me and let me know what State your in.We are Real Estate Vendor Financiers. The Wrap Training Joint Ventures don't relate to bird dogging. They are Training JV's for people interested in becoming familiar with Vendor Finance. I don't want to be seen to be advertising so PM me if you need anything further. Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi Paul,
Good to see another investor supporting the bird doggers.Is anyone out there looking for a bird dogger? As an added bonus, I am also a licensed, experienced real estate appraiser.
Hi
I have located a stand alone duplex and am not currently in a position to buy again for another 4 months or so, i have 2 ideas – negotiate a long settlement or birdbog. This property has a positive cashflow of about $60 per week. I will be doing up a speadsheet to check all of the figures (closing costs, rates, insurance, renovations, rental return) i have researced rentals in the area they are limited (currently 5 advertised). I live near the area and am planning a trip there this weekend. The property requires a little work (kitchen and bathrooms). This property is in a town with 11000 people in an expected growth area it is priced at the lower end of the property market. if anyone is interested please email me. Suggestions on bird dogging or negotiating settlements would be appreciated.
This is my first action after finishing Steve's book a week ago! I have seen alot of potential +ve cash flow properties and am eager to start investing
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