Steve Cook

Breeding Bird Dogs
by Steve Cook

No, I’m not talking about starting a kennel and going into the dog business - still talking real estate here. A new concept that I have been using for a while and one that I have seen others effectively use is what I call “Breeding Bird Dogs”. In a nutshell, breeding bird dogs is taking newbie investors under your wing and training them how to find prospective deals. The premise behind training other “would-be investors” to find properties is that they will bring the deals to you before they present them to anyone else. Some may feel as though they are training their competition, but I’ve never looked at it that way. The newbie benefits from this training by learning the ropes of the business, pursuing deals, and getting paid without taking any risk. At some point they may start doing deals on their own, and I’m happy for them. You, on the other hand, through your experience and the training that you provide can have many more eyes on the street locating deals for you.

I have a slew of bird dogs who take to the streets daily searching for deals that they can bring my way. On average I get about five calls a day, sometimes over ten calls a day. It’s like any other method of finding properties where you usually have to get 20 leads to find one deal. When I find that deal, I make sure that the bird dog is paid well for his or her time. It is my goal to make it worth their while to continue bringing the properties to me. That’s why I teach investors how to locate deals. I teach them about putting ads in the paper, driving neighborhoods, putting out signs, sending postcards, etc… When they get calls and present me with deals, I start giving them tips on how to identify deals and tidbits on negotiating a better deal.

Now I do not pay my bird dogs for handing me an address and a phone number. I want them to see the homes. I want them to talk with the owners. I want them to do their best at negotiating the best price they can. I also do not pay for MLS leads. The only time I’ll pay for a lead from the MLS is when someone has the property under contract at a fair price. So if you are interested in raising your productivity a notch, train others how to do what you do, and then treat them well for it.


Steve Cook
Since 1998 Steve Cook has flipped many hundreds of houses as an active Baltimore-area real estate investor. Steve's unique specialty is the "flipping homes 1-2 punch", a proven system of real estate investing that powerfully combines wholesaling and rehabbing houses. Steve Cook is dedicated to helping others succeed through understanding and aggressively applying his time-tested, step-by-step approach to flipping real estate.


Steve Cook Products (2)
CoursesRehabbing for Big Cash
CoursesWholesaling for Quick Cash


Copyright Notice
Copyright 2002-2015 All Rights Reserved. Published with Permission of Author. No part of this publication may be copied or reprinted
without the express written permission of the Author and/or REIClub.com.

Back to Top

Free Newsletter
Name:
Email:

Article Options
Printer Friendly Page
Send This to Friend

Author's Articles
A Good Contractor
Advice For New Investors
Being Broke: Career-Ending Or Creative Opportunity?
Breeding Bird Dogs
Building the Ultimate Wholesale Buyer's List
Finding and Filling Your Niche!
Finding and Working With A Good Real Estate Agent
Fix-And-Flip Tips: Avoiding Crumbling Contractor Communications
Flipping Houses Ethics: What's Your Name Worth
Getting Around The Non-assignability Clause!
Getting Started in Real Estate Investing
Getting Wholesale Buyers In The Home
Hot Market House Flipping: Can You Still Find Deals?
How Should I Adjust For Changing Markets?
Investing in Hot Markets
Is Flipping Homes Illegal?
Marketing - The Weekend Bandit
Money In Mold
Negotiating A Sales Contract On Your Finished Rehab
Negotiating Like a Pro
Nine Steps to Quick Cash: The Anatomy of a Wholesale Flip
No Money Down Real Estate Investing: Is It For Real?
Overcoming Fear (Beginning With A Vision)
Overcoming The “No Money” Pre-Offer Jitters
Part 1 - What Exactly is a Hard Money Lender Anyway?
Part 2 - Finding Hard Money Lenders
Part 3 - Profiting from your Hard Money Lenders
Pre-Qualification Letters: Why Do I Need Them, How Do I Get One, and What Should It Say?
Prehabbing for Big Cash in Hot Markets
Proper Handling of Contractors
Quality Deals
Real Estate Day Trading
Rehabbing a House From Start to Finish
Should I Quit My Day Job?
Starting your Real Estate Investing Career the Right Way
Success Strategy - Aim For The Low Hanging Fruit Part 1
Success Strategy - Aim For The Low Hanging Fruit Part 2
Success Trap-Why Investors Give Up On What's Working?
The Art of Conversing With Team Members
The Gut Rehab
The Only Contingency You Will Ever Need
Understanding Appreciation
What is a Fixer Upper?


Author's Products

Rehabbing for Big Cash

Wholesaling for Quick Cash