One of the best and easiest ways to create a pipeline of potential deals is using birddogs. The key to making this a hands-off process is to use the internet to find your bird dogs, whether you are working locally or nationally. The overall process looks like this: 1. Place ads on Craigslist looking for bird dogs, aka property locators.
- Send them to an opt-in squeeze page.
- Send out seven to ten days of training (via autoresponder)
- Let the deals roll in.
Automation is the key to simplifying this process and to save you from having to deal with people who are just testing the waters of bird dogging. The first step is to post an ad on Craigslist. You can post in two places: In the Real Estate for Sale Section and in the Jobs Section. In some areas, you may have to pay a nominal fee to post in the Jobs section, usually along the lines of $25. It is money well spent. The number of leads you will get from these listings will more than pay you back. Keep your ads short and sweet. There are so many people marketing on Craig’s List but all their ads look pretty much alike. The biggest thing is to make it as easy as possible for people to get in touch with you. Your ad can be as simple as three lines. An example of a good, working headline is: “Investor Looking for Bird Dogs.” The body of the ad can be just a line or two: “Investor looking for birddogs to help me locate properties, potential income, $2,000 to $5,000 a month for sending wholesale deals. Go here to learn more about it.” Then have a clickable link that sends people to your squeeze page. This simple ad gets an effective response because it is very direct and most importantly, it has a “call to action.” It tells people what to do to take the next step. Clicking the link takes your bird dog prospect to a squeeze page. On this page, the person needs to enter his name and email address to receive information. You want to make people jump through at least one hoop to get to you. Why? They need to show you that they are serious about working with you. Once someone has opted in, they are put into an autoresponder system – a series of seven to ten emails with a link to a training page. You want to train bird dogs to find what you are looking for whether it’s foreclosures, vacant properties, fixer uppers, multi-units. You will want to include the areas where you want properties, the types of properties (or types of owners), the price range you buy in and the retail value you look for on the other side. For example, one training may be on how to judge how much rehab will be needed on a property. This training series will ensure that when bird dogs start sending deals to you, you won’t have to waste your time wading through properties that aren’t within your parameters. If they have made it this far they can start sending you deals. The final step is to look over the deals and write offers. At this point, you can tweak and sharpen a bird dog’s skills if he isn’t sending you quite the right type of properties. You can pay bird dogs using a flat fee or depending on the circumstances, a piece of the deal. It really depends on how much work they’re putting in. If they just send you a deal and you have to have do all the research, then a flat fee, in the range of $500 or $1,000 is good. If the bird dog is sharp and is doing all the work, contacting the owners, negotiating, researching then you may choose to do a split of some sort. It’s up to you. There are plenty of deals out there and a good bird dog can make very decent money. For the investor, having deals come to you saves time and effort. Automation is the key to a successful real estate operation and automating your property acquisition system will have your business humming.