I'm Ebony Caldwell with Rei investment society. And we are going to review this form that is a form that is never really talked about. But this has to protect your interest also and make sure you stay in a good relationship with your bird dog. And this is a bird dog agreement. Now before we even start about this bird dog agreement and how we use it as a recap, what is a bird dog in real estate? It's not a bird is not a dog, but the term bird dog.

What does it mean? Well, a bird dog and real estate is basically used by wholesalers or investors. This is a this is a individual who has their eyes and ears out listening looking out for everything within your business to help you grow your business. This is that basically the salesperson, right and when I say salesperson This is the person who's going out there looking for the type of properties that you asked for. They're looking for the properties that appear to be distressed. The grass hasn't been cut, and have utility shutoff signs on the doors they are looking for that.

This is the person that's out there making friends with the utility workers with the postal workers who will be able to tell them which properties are vacant, or who might have just went through a divorce. So this is your person that you need in your circle that you need to have a must have on your team, especially virtually wholesaling. Why is that because again, if you're virtually wholesaling and you're trying to pick up to mark is a three mark is a five markets. You need a bird dog in every single market and if you can get two or three, get to a three the more bird dogs you have, the better the one benefit with the bird dogs also So is if you choose to put bandit signs out your bird dog is the one is going to put out all those signs you can have done to put them out, you know you don't, there's two different ways about it a, you can have the science created already with your information on there, let them put it out.

Or you can turn around and pay them just a little money for it. Or the fact is that if you have someone else put them out whether it's a teenager who's looking for a summer job, it really does matter. And you get all of those phone calls in you need somebody that goes to these properties. So who's going to go to these properties? If you're in LA, if you're in LA, and a property in a target market that you was looking for was in Phoenix, Arizona, who's going to look at their property for you. Are you going to actually get out on the plane to fly to see the property?

Especially if you get a lot of phone calls? Absolutely not. It's to guess it's a waste of time unless you get properties You want to visit in that area that you already are in the process of rehabbing. So with that being said, your bird dog is your eyes and ears, that's the one and help you bring these deals together, believe it or not. Now, you probably you know, think, Okay, well, that's, you know, why not? Why should I really trust them?

Why birdo Why would they want to be a wholesaler? Here's the equivalency to that. Look at a bird dog. No difference, and it's not being a negative factor. This is the effect. This is a fact not using two different scenarios.

You have that server at the restaurant, who's really really good with customer service, and you're thinking, why are you working at this restaurant making minimum wages and tips when you can be an account executive account executive somewhere, or you have what they call in New York or Chicago, peddlers people that's on the street selling goods You have a lot of these people that make money from this. And some of them are not a lot of them are not homeless or bombs as people think. You have some that actually dress up, get up, this is a job for them and they sell goods on the street. So you ask, Well, if they have the nerve to actually go out and sell goods on the streets, why can you just be a wholesale and do this themselves? The question is what makes a person happy, and everybody have their calling everybody have a job.

They want to do this for them. A lot of bird dogs are not trying to be wholesalers. They don't want to be wholesalers. They want to do what they do. They want to feel like they the big man in charge and it's already the big lady in charge. That brings people together.

They are the ones that ultimately in the end, especially if you get a lot of deals that will help You run your business and make your life so much easier. So the one thing I will say before we even get started, do not under any circumstances devalue your bird dog. Don't underestimate what their worth is, their worth is more valuable than you think. Look at it this way. In this agreement, I'm going to show you where you'll put their fear. But when you turn around and look at the fee that you're going to put on there, or that I'm going to put on here, which is $1,000.

Ask yourself, if you know you make $10,000 on a deal, was it worth it? So if your Bergdahl brought you 10 deals you'd have made $100,000 technically, you'd have made 90,000 because you pay him $10,000. So ask yourself, was it worth it? And if you bonus them, that's another you know, that's another great thing too. So your bird dog can walk work on Both sides your word your bird dog can work on the side as of the side of that they're bringing you distressed homeowners, they bring you distressed properties, or they're bringing you sellers, many buyers so they can bring you sellers and buyers and how to get a buyers the same way that you do. You know, it's not about you training them and teaching them how to go and get buyers because no, you don't want to buy to take your business.

But bird dogs can also be like that person that's just like a social media fanatic who loves social media, or Who's that affiliate who loves selling, bringing people together bringing introducing a person to a product, and that person gets paid for that. So your bird dog is going to do their own marketing, their own footwork. They're going to do everything but the ultimate goal is if you pay them right, they're going to keep working for you and keep bringing you good deals. So I will say this when I pay my bird dogs depending upon the deals, I do pay them at minimum, and I'm emphasizing at minimum $1,000. My threshold is basically 5000 to 10,000. I paid them $1,000.

And depending on how fast they close, I do give them an extra bonus of $500 for just that one deal. Now, at minimum, the least you're going to make on a deal is $5,000. And that's just being totally realistic. The truth of the matter is every single deal I've ever done, I've made at minimum $10,000 all the way to $55,000 in the past, and I know people that have made $100,000 wholesaling deals. So it's really, how much is your deal worth but most importantly, how much do you value your birthday? Because that's the person who's going to bring you consistent deals.

Now, let's dig deep into this bird out of agreement. This agreement is made effective of, I'm just going to date out there on January 1 2017. By and between evany Caldwell, the buyer. Here's why I'm the buyer right now. I'm the buyer right now because the bird dog has brought me a property from a motivated seller who wants to sell this property to me. So they are acting now as the bird dog for this particular property.

So it's evany Caldwell, of Rei investment society and john doe of bird dog watch consultants, okay. You always want to make sure as I indicated before you are incorporated so as a wholesaler, please incorporate your business within 30 days. As soon as possible of watching this, um, you're burnt out, they don't have to be incorporated but you would prefer them to be incorporated because it makes life easier for you when it comes to accounting time. And this agreement the parties who are contracting to receive services, she'll be referred to as the seller or the buyer. So remember, I'm the buyer for this one because they bought me the property okay. And the party who will be providing the services shall be referred to as the consultant.

They are right here the consultant john doe, of birdo. Watch consultant services, the seller and or buyer desire to have services provided by the consultant. Therefore, the parties agree as follows the description of the services beginning on January 1 2017. The consultant will provide the following services collectively services or real estate located referral Context service. Remember, that is it. It's already outlined for you, you don't really have to change anything.

Performances of the services consultants shall determine the manner in which the services are to be performed at a specific hours to be worked by the consultant. The seller and or buyer will allow the consultant to work as many hours as may be reasonable necessary to fulfill the consultants obligations under this Agreement. Payment the seller through the buyer will pay a locator referral and or contact me to the consultant for the services equivalent to again $1,000 or percentage of the proceeds derived from the sale and or purchase of the property located or a flat fee. Now, what I've done is once I pass it through escrow of $10,000, I just pay him a percentage 5% because I know I'm getting To get paid, if I know I'm good, you know, $35,000, I would be real petty to just give them 1000. And I know if it wasn't for them, I wouldn't be getting that 35,000.

So you can kind of continue to read up one here upon termination, this agreement payments under this paragraph shows sees, provided, however, that the consultant should be entitled to payments for periods of partial periods that occur prior to the date of termination. And again, maybe we're behind your back and does something, they does something illegally, they could affect your business. And, you know, they're not going to get paid basically, under this contract. If for whatever reason, this contract is terminated prior to this deal closing, but you don't want to, you know, find a reason to terminate them for no reason. So it really needs to be something legitimate, you know, terms of the termination on disagreement show terminate, automatically applied. completion of a consultant of the services required by this agreement, remember, every single property should have a different birddog agreements.

So for every single bird dog that you have every deal that they bring you, whether it is the distressed property or in buyer, please make sure you have a separate agreement. This agreement kind of serves as their lower commission form. So, even though you may have, let's say, an independent contract for them, you still want to have this in conjunction with every single payout for every single deal. Really relationships of the parties employees, this is important employees, the consultants employees, if any who perform services for the seller and or buyer under this Agreement shall also be bound by the provision of this agreement. At the request of either the seller and a buyer the consultant shall provide adequate evidence that such persons are the consultants, employees There's just basically me You're saying they can employ somebody all they want to you don't care however, that same person is getting paid up to the same agreement by them.

Okay. confidentiality, you right here the business recognized consultant has and will have the following information prices cost future plans, business affair and other proprietary information which are valuable in consideration for the disclosure of this information that consultant agrees that the consultant will not at any time or any manner, either directly or indirectly use any information for the consultants own benefit or devotes disclose or communicate in any manner information to any third party without the buyers consent. unauthorized disclosure information confidentiality after termination, basically, they should not be releasing any information. So if the seller and or buyer again, I'm the buyer for this, right because I bind him that distressed property. I'm going to go ahead and put my name here, the address of the property, and then credit for the consultant, same exact thing, the consultants name, the address of that property and go ahead and print the date.

We're done with this. Now this is just a lot of warranties information in here. Same thing applicable by law, this agreement should be governed by the law parties receiving a services. Again, I'm the buyer in here is by any call well once again, my name sign my phone number party that's giving us services which is going to be the consultant all right here. Now I'm kind of going to fast forward or rewind and kind of go back to this original agreement. Now if we go back up here for today's date, January 1 2017, by in between evany called will hear it as salad Learn because we did buyer.

As a seller what happens is the seller, I'm now the seller, my bird dog just bought me an investor they did they own marketing, they did their own due diligence and they found me and investor. So now I am the seller on this property. I still have the same exact name evany Caldwell, I'm Rei investment society, I still have that information right here, their information is going to stay same only differences. I'm the seller now. Okay, so every place that we originally saw where it was buyer, like the seller through the buyer, I am now the seller for this particular property. So I hope this was good information for you.

Make sure that you continue to utilize this form. Watch this video as many times as possible to kind of familiarize yourself with it. But having a burned out form of breathing is extremely important. And as I improve Besides, and I'm going to emphasize again, again RAM is the seller. As I'm going to emphasize one more time, under no circumstances should you ever devalue your bird dog. Pay your bird dog what they worth and they are very valuable.

Your bird dog is the one that's going to make you a lot of money. In the end. They're going to help you be a true virtual wholesaler. Make sure you pay them, make sure you build your relationship with them. That bird dog is going to be your person that had the eyes and ears out there and a foot on the ground. If you don't have a personal assistant if you don't have a partner, if you don't have a real estate agent goes to these properties which you don't want to real estate agencies properties unless it's a property on the MLS that they found you.

But if it's an off market deal, and you don't have a partner, your bird dogs gonna be your right hand man or your right hand girl. So take care of them uses form you As for for every single property and this is also the foreignness you know you're going to have at the closing because you're going to make sure you pay your people right. So if you have any questions, feel free to send me any questions and I will definitely answer them to the best of my ability. Again, I'm signing out good luck wholesaling and gratulations on knowing you're going to close your first deal within 30 days or at least get your first deal with 30 days. I'm Emily color with Rei investment and I am signing off goodbye