megabucks41 0 Report post Posted August 31, 2007 Does anyone have a simple bird dog agreement they use with their bird dogs? I am doing a double assignment on a property. A wholesale dealer is selling me a property for a certain price, and I found a buyer that likes the price I am selling the same property for. So I am going to split my assignment fee to look like I am only charging my buyer $5,000 and then from my seller I am going to need an agreement that he is paying me a bird dog fee of $4,000. This way my buyer doesn't feel that big of a hit coming from one side. But of course he is paying for both assignment fees and it still a good deal because of the numbers. Heck, the buyers are going to flip it anyway for retail and could pick up a good $40K. This is just getting too sweet. MC. Taught how to do CA's & Pure Options along with advice from REX just about 2 years ago.Now I am wholeselling deals all over the country, doing short sales, and I have investors looking me up for deals. I have contacted West Coast Girl & Bev because I have a mansion to be sold in their part of the world. Property was a appraised at $34 million. I am selling at $24mill. I have possible buyers as I write this. They are just waiting on me to get a reappraisal which should be in in about a week or so. Until I sell it I won't disclose what I am buying for but the spread is large enough to keep me from ever going back to a job. Thank you all. What a ride!BEV & West Coast Girl, where are you? Let's make some mills! MC, you want some of this, jump in! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 31, 2007 Ernie, here is one that was referred to me a while back. You'll need to tweak it a bit for your needs, but take a look. It might work for you. BEV & West Coast Girl, where are you? Let's make some mills! MC, you want some of this, jump in!You talking about Bev and WCG? Or some of the deals you're hustling? Either way, my answer is yes. Whatcha got in mind, Big E? We're long overdue anyway for a sit down over a plate of vaca frita, platanos, y moros y cristianos. . . Share this post Link to post Share on other sites
BEV! 0 Report post Posted August 31, 2007 BEV & West Coast Girl, where are you? Let's make some mills!Yes I want a piece of it.. but I need details, pics, instructions.. what exactly is it that you're looking for this chica to do, amigo? Gracias, BEV! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 31, 2007 Admin, Yes I want a piece of it.. but I need details, pics, instructions.. what exactly is it that you're looking for this chica to do, amigo? Gracias, BEV!Bev, if ya gotta ask. . . Share this post Link to post Share on other sites
BEV! 0 Report post Posted September 1, 2007 Admin, Yes I want a piece of it.. but I need details, pics, instructions.. what exactly is it that you're looking for this chica to do, amigo? Gracias,Bev, if ya gotta ask. . . HAHAHAHA! Oh please, not you too LOLI had the most embarrassing experience today (Rated "R") and now this? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 1, 2007 Admin, Yes I want a piece of it.. but I need details, pics, instructions.. what exactly is it that you're looking for this chica to do, amigo? Gracias,Bev, if ya gotta ask. . . HAHAHAHA! Oh please, not you too LOLI had the most embarrassing experience today (Rated "R") and now this? I'm afraid to ask. But I'll remind you again to stay out of those biker bars. . . Share this post Link to post Share on other sites
phil43 0 Report post Posted September 1, 2007 HAHAHAHA! :lol: Oh please, not you too LOLI had the most embarrassing experience today (Rated "R") and now this? Was this anything like the "bees"? Share this post Link to post Share on other sites
West Coast Girl 1 Report post Posted September 1, 2007 BEV & West Coast Girl, where are you? Let's make some mills! MC, you want some of this, jump in! Well, I feel flattered that you're seeking me out. Yes, this all sounds really exciting. Especially, when you're talking about MILLION$ here! (Hey, what kind of girl in the right mind wouldn't want a piece of this? )! I'll contact ya to discuss this in private! WCG Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted September 2, 2007 Guys,You just know I have to step in on this one. DO NOT use a "Finder's fee" agreement! You need to remain as a "principle" all the way on this one. I would use a promissory note subject to assignment or whatever, but stay away from the whole "finder's" fee thing. The agreement is nice, but it's screaming brokering hands down. Why do I mention this to you? Simple, if you're doing deals everywhere you're eventually going to run into a $#!@ that doesn't like you. If you get in the habit of using non principle agreements, it will catch up to you!My 3 cents,AdamPS If you wanted to get creative (the norm around here) you could use an assignment addendum, or the wording in the cooperative assignment agreement that discusses having the assignment taken off the purchase price etc. Then just raise the purchase price to make up for your assignment. This is what I would do in the future. It looks as if the money is all being put to good use! Share this post Link to post Share on other sites
#1investor_cream 5 Report post Posted September 2, 2007 Hey Quick Question, Is A BIRD DOG fee Ilegal Income. SomeOne along time ago, told me that you can't count that as Income. I have collected a bird dog fee before. But never knew it was ilegal income! Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted September 2, 2007 just raise the purchase price to make up for your assignment.Is that really you, Adam? I can't believe such a simple and straight forward approach came from you! You're usually the one to figure out the most convoluted why to do things That is a great idea to be sure. Just raise the price and have your assignment fee taken off the top. That's what we usually do with CAs but the price has already been raised. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 2, 2007 just raise the purchase price to make up for your assignment.Is that really you, Adam? I can't believe such a simple and straight forward approach came from you! You're usually the one to figure out the most convoluted why to do things Even curmudgeons can have a sense of humor, apparently. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted September 2, 2007 LOL You guys slay me. Okay relax, it's not that a bird-dog fee is illegal, that's not the right question. The question is how did you get the finder's fee? It's almost a joke, but the day you piss someone off and cannot produce a paper stating you were a principle, then it could be an issue. Let's take this approach. There's no such thing as a bird-dog. Now, get out there and simply use the agreements that came with the manual. After that, you can call it an assignment fee, promissory note payoff, partnership fee, release etc. Let your mind go....... Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted September 3, 2007 Even curmudgeons can have a sense of humor, apparently.My account was hacked Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 3, 2007 Even curmudgeons can have a sense of humor, apparently.My account was hacked It was Adam. You'll notice he's been hanging out here at 4:00AM recently. Share this post Link to post Share on other sites
