A few weeks ago I had a student from the Vegas seminar make a 3% bird-dog fee off a $966,000 deal that closed with my investor partner. To be clear, I should mention that he was working on this deal for awhile, attended the Detroit event, and had this deal in the pipeline before he attended Vegas.
But that isn't the most exciting part (for me) in all this.
This $28,980 referral fee he made from bird-dogging the deal was the third deal he's done in the past 9 months. The first 2 deals had nothing to do with my investor partner since he simply found his own investors to bird-dog for.
Even more exciting (for me) is that this $28,980 fee was the lowest fee he'd earned from his 3 bird-dog deals he's done in the past 9 months. The first deal closed before the Detroit event this past November, making him a $56,000 fee. And the second deal closed right after the first of the year, earning him another $31,500 fee.
Yes, that's right. He made $116,480 in less than a year working -- I don't know -- probably a total of 50 hours on all 3 deals. (That's a guess. I'm certain that it's actually a lot less than that.) By the way, this is someone who claims he's "disabled" even though you'd never assume he is just by looking at him.
So...I'm fairly convinced that anyone can bird-dog and make money by simply finding properties and "selling" the opportunity to investors.
The biggest question people tend to ask is: "Why wouldn't these investors just go out and find these deals themselves?"
Answer: They do. But, it would take a full-time staff of at least 10 people for them to find and analyze every listed commercial MLS deal out there. This isn't including the deals that aren't listed in the MLS.
The key to true success as a property scout or bird-dog isn't looking at deals on Loopnet.com and throwing together a business plan, although it has been known to be that easy. To be ragingly successful as a property scout means that you have to see and sell an opportunity that isn't quite there yet. This could be focusing on under-performing properties and showing a prospective investor how easy it is to use a simple plan for basic cosmetic renovations coupled with quickly curing the vacancies.
But...
I don't actually do it that way myself. I never have!
I use a very special method for bird-dogging deals that is unique, effective, and much more profitable than getting a paltry 3% of the deal in the form of a referral fee.
And this will blow your freaking mind.
I can't explain it in all in this email so I suggest you click on this link for a short audio seminar and a detailed explanation on how you can make $100,000 to $500,000 on each deal instead! Go to this web page now: http://www.monicamain.com/bird_dog_bonanza
I've had some students end up completely changing their careers and their focus on the type of real estate investing they thought they initially wanted to do in favor for making these obscene amounts of money bird-dogging that I'm talking about.
Again, go to http://www.monicamain.com/bird_dog_bonanza for more info.
See you at the top!
Your mentor,
Monica Main
