Leveraging “Bird Dogs” For Off-Marke...

birdog Hey Moguls, Cody Sperber here…

Dogs may be man’s best friend, but if you’re an investor, wholesaler, rehabber or even a landlord, a bird dog – to be specific – is your new best friend.

As a faculty advisor here at Mogul, I’ve given you lots of good info in my previous lessons and a training call about a bunch of different topics. But I keep coming back to a topic that I think you shouldn’t pass up… bird dogging.

I’ve introduced the concept of “bird dogging,” and now that you know the bird dog deal, I want to share with you my thoughts on “breeding” these guys. It’s all about acquiring properties and leveraging other people who can score those properties for you. With a little guidance from you, your bird dogs can produce – for you – off-market deals.

And that, my friends, is what we call one powerful strategy.

Sniffing out Your Dogs

Finding the best bird dogs isn’t as hard as you think, and I’ll bet they’ve been right under your nose this whole time. They hang in the same places as you, you just didn’t notice. I mean, how can you look for something you don’t even know exists, right?

But now you’ve smelled the coffee. You’re wide awake and wide-eyed and ready to find your bird dogs.

So, where do you look?

First, know where you want deals and where you want your investors to find deals FOR you. Then, cruise through those neighborhoods and connect with everyone you see. I’m talking about the mailman, the lady walking her dog and the Starbucks barista.

And now follow these steps…

Leave a Paper Trail: Wherever you go, leave your business cards and flyers. Someone will get them or pass them on eventually. Get creative and remember it’s better to ask for forgiveness than for permission. Leave a trail wherever you go, and keep the communities you’re targeting connected to you... one way or another.

Recruit the Rookies: It’s all about fresh meat, kids. Visit your local auction and find the newbies, those who are just getting into the real estate business. Introduce yourself and let them know you’re the guy who can help them break into the business. Give them your card and sell yourself as the one who opens doors. In return, they will want to find deals for you.

Be the “Go-to” Guy: Think back to when you were still wet behind the ears and hungry (maybe even starving, literally) for your first big deal. How psyched would you have been if someone had offered you cash to find deals? Maybe you’re one of the lucky few who had the chance to be a bird dog once upon a time. So why not pay it forward? Help other newbies get the experience and cash they need by offering money in exchange for deals.

Seminars Are a Sweet Spot: Seminars don’t suck. I know, it’s counterintuitive, but trust me on this one. Seminars always offer great takeaways even if you’re a seasoned investor, and they’re crawling with eager investors and rookies who need experience. So, tap into this resource and score yourself a few bird dogs.

Show Them the Money

It’s not uncommon for bird dogs to panic about not getting paid, but it’s your job to reassure your dogs that you are an honest professional with integrity. If they bring you a deal, they will get paid.

dough Building their confidence in you and your word is all about follow up. Stay in touch and let them know the status of your deals as they come. Keep the lines of communication open to build solid rapport and enduring trust with your dogs.

You can even include a message on your business cards and/or on your website to let bird dogs know that you’re a guy who pays! Tell them, “Yes, I’ll show you the money!” Give your cards to anyone and everyone you meet and keep building that solid reputation.

Here’s the bottom line...

If you want to make more deals, you need other bird dogs on your team. They will be your eyes and ears, and most importantly, they will save you time, big time. Train them right, and they will be your new best friend. It’s that simple.

Pimp my Podio

Investors also use Podio as a CRM for their businesses. It’s a great way to systemize the bird dog process of submitting leads.

With Podio, you can set up a webpage and input fields that you want your dogs to use. This is a private page for both you and your bird dog, and it will allow you to ask the questions necessary to ensure your dog is doing his or her due diligence.

It simplifies and streamlines the communication, and it beats the heck out of random texts, emails and messages that can be nearly impossible to keep up with.

Talk to Me

Do you have a great team of bird dogs? Tell us about it in the comments section below.

Make your mark – get out there and make an impression, so when the deal falls through, your connections will think to call YOU.

Be ready to jump when you get the call.

Don’t waste time with bird dogs who simply send addresses. Your bird dogs need to bring value to the table, and they need to do their homework before presenting you a deal, but you’ve got to teach them the nature of your partnership first.

Stay one step ahead. Practice proactive thinking and plan upfront how you’re going to gain your bird dogs’ trust. Know your strategies for training them, and get creative about approaching them.