Real Estate Bird Dogging Overview

Summary

This meeting was an in-depth overview of the bird dog role in real estate investing, including how bird dogs earn fees, the flow of money in typical transactions, and the necessary contracts.
Key examples and a guest interview with Bill illustrated bird dogging as a no-cost entry point into real estate, leading to further opportunities.
The group discussed payment structures, avoiding unethical practices, and strategies for building relationships and finding buyers.
Concluding, a prize was awarded for engagement, and instructions were set for the next session focusing on acquiring suppliers and landing a first bird dog deal.

Ongoing – Carly: Share JV agreement and purchase/sale contracts in the side chat for participant download.
By Next Session – Carly: Confirm and coordinate travel details for prize winner (REI_investor) to attend Pace’s office event.
Next Session – Pace: Prepare and share a detailed game plan for securing a first bird dog deal in under one week (including strategies for finding suppliers and buyers).
Ongoing – All participants: DM Bill on Instagram for networking, buy box details, and potential deal collaborations.
Tomorrow (5:00 pm PST) – All participants: Attend next live session covering supplier acquisition and actionable steps for new bird dogs.

A bird dog is an individual who finds investment deals for buyers but does not negotiate contracts or directly acquire properties; instead, they connect wholesalers and buyers (fix and flippers).
The core parties in a transaction include the seller, agent, wholesaler, bird dog, and end buyer (“Flip”).
The standard money flow: buyer funds (often from hard/private money lenders) are wired to the title company, which then pays out the seller, wholesaler, bird dog, and covers closing costs.
Bird dogs typically use a simple JV (joint venture) agreement with buyers to formalize their fee, which may vary by end buyers’ preferences and profit margin on the deal.
Bird dogging offers a no-cost, low-barrier entry to real estate, with no need for software, CRM, or upfront investment—just relationship-building and persistence.

Bird dogging serves as a practical education for new investors, teaching transaction flow, terminology, and business relationships while earning fees.
The guest (Bill) described a trajectory from bird dogging to directly buying and holding properties, emphasizing the educational value and low risk.
Most successful bird dogs focus on serving one quality buyer at a time, building trust and receiving feedback to improve deal quality.
Payment structures can range from $5,000 to $15,000+ per deal, depending on buyer profit margin (10% net = $10k fee; 15% net = $15k fee, etc.), with transparency and agreement up front.
Bird dogging is distinguished from daisy chaining, which is unethical: daisy chaining involves misrepresenting oneself as the buyer, while bird dogging is fully transparent about roles.

The Sub 2 community provides a large peer network and access to buyers for bird dogs and investors.
An attendee (“REI_investor”) won a prize to visit the host’s office, furthering engagement.
The next session will detail step-by-step actions for new bird dogs to get their first deal in under a week, including live Q&A and further guest insights.

Standardize bird dog fee structure based on buyer’s net profit — $10k for 10% net profit, $5k for under 10%, $15k for over 15%; rationale: ensures equitable payment correlating to deal profitability and encourages repeated business.
Community resource sharing — JV and purchase/sale agreements made available via side chat to streamline transactions for new participants.

Participants requested more guidance on sourcing buyers (“where to find buyers”), which will be addressed in the following session.
Further clarification on “daisy chain” scenarios and contract handling for non-community (Sub 2) deals is suggested for future discussion.
Confirmation that prize winner (REI_investor) receives and coordinates travel arrangements with Carly.
Details about the exact process for bringing deals to Pace for non-Sub 2 members to be clarified in future sessions.