Creating a Bird Dog Network Part 3
If you missed the previous article – Creating a Birddog Network Part 2
As a full-time Canadian real estate investor, we must do our best to creating massive and passive income. This includes driving more and more deals to us from as many sources as possible.
Creating a Bird Dog Network
In the last article I discussed a few of the bird dogs you can have in your network. As a full-time Canadian real estate investor, these people are critical for your success in creating massive and passive income. In this article, I’d like to suggest a few ways to pay these people.
Managing your leads
Once a bird dog has passed your business card along to a perspective client, the bird dog really won’t know what happens next. You have told them that they will get paid on a successful closing and of course that is exactly what you need to do.
So, once you have a deal from a potential client that you have indeed found to be a boneified “situation”, you must be able to remedy the situation quickly. This could be anything from a fast closing to any of over 100 strategies that are taught in our seminars.
Let’s assume you have put an offer in on this property and tied up this property at 30% below market value through your education and skill. You then turn around and assign this property to another real estate investor or an end buyer and make an assignment fee of $20,000 which is reasonable. (this is covered in another article)
Rewarding your bird dogs
So, what do you pay your bird dog? Well I usually tell them that I will pay them $1000.00 upon a successful closing, so I usually will cut them a cheque for $1,500.00. Why?
Under promise & Over deliver
I like to under promise and over deliver. When I hand that utility worker, hair dresser, bartender or pizza delivery guy a cheque for $1,500.00, are they happy? Of course. Make sure you give them the cheque in front of all of their co-workers. Will they tell their friends? Of course. Will they and their friends ask for more of your business cards? Of course.
As a full-time Canadian real estate investor, you can really see the benefits of having bird dogs bring the properties to you. As mentioned before: you should never rely on a single source to bring you deals!
The great thing about this process is that other than getting more bird dogs working hard for you because they witnessed your system working, but your cheque to them is tax-deductible. It is a business expense to you that you can write off against the assignment fee you just received. Pretty cool huh?
World Wealth Builders offers intense 3 day Real Estate Millionaire Apprenticeships that teach hands on, out of the box, non-conventional strategies and techniques in order to build financial independence through successful real estate investing.
Here’s to your bird dog network creation!
P.S. Take Action now to attend the eye-opening seminar and walk away with confidence, knowledge, and specific “action ideas” that can help you achieve your dreams and leave the rat race behind.
We have been training Canadian Real Estate Investors since 1993
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