Looking to present a deal you found using BirdDogBot to a potential investor?
Here’s how you can do so WITHOUT giving him your BirdDogBot.net user account and password. The investor can’t change any information, nor can he view your confidential deal notes.
Post a comment below and let me know what you think!
Leave A Reply (10 comments so far)
Elizabeth Nichols
76 days ago
Can you add an option so we can add in our wholesaler fee. The software is set up to show a rehabber what it will cost to resell this property and the profit margin, but they may be paying me a $5000 to $10,000 fee to flip them the deal. That cost is not accounted for here and I can see it might be confusing to just hand this page off to the rehabber/landlord buyer without knowing that my fee must come off the top of the profit. Some wholesalers might also not want to share what they paid originally for the deal and want to start the costing at what we are offering the property for to our buyers.
[Reply]
Kosta Reply:
March 9th, 2013 at 8:29 pm
Hey Elizabeth,
You can include your wholesaler fee by using the “acquisition fee” expense field. This is based as a percentage of the ARV value of the home. You can also manually change this value once BirdDogBot has found the deal.
As for hiding the price, I will take your feedback into consideration for the next update.
Let me know if you have any other questions…
Thanks,
Kosta
[Reply]
Mike
455 days ago
Great idea, however when you share the URL, it shows the birddogbot.net in the URL is their anyway to mask that id without your end buyer knowing what website you are using to gather up your data?
[Reply]
Kosta Reply:
February 25th, 2012 at 4:41 am
Hey Mike,
You could always view the url yourself, print the page to a PDF through your browser, then email the PDF to the buyer. That should do the trick and they’d never know where it came from
I’ve been thinking about “customizng” those pages such that your name (for example) would appear at the top, or even instead of displaying the “realtor contact info” it would display “investor contact info”. What do you think? Would that be a cool feature?
Kosta
[Reply]
Mike Reply:
February 25th, 2012 at 11:26 am
Kosta,
Good ideas, I think that would actually be better ! Just my .02
[Reply]
Kosta Reply:
February 25th, 2012 at 2:56 pm
Sweet! I just added it to our To-Do list!
Marizel
526 days ago
Hi Kosta,
This is a great tool! I just have a question.
So, when I email the link to the investor, what kind of a win-win situation that can happen? How can I make sure that he will not go directly to the listing agent and make his own offer based on BirdDog’s numbers? What will happen to me? I can serve as a Bird Dog for the investor but I have to make sure that he’s not going to do anything behind me. Example: Investor sees the BirdDog info/numbers. He says “I’m not interested.” Then he turns around and still use the numbers without my knowledge and make his offer…then gets accepted. Then I’m left with nothing.
I’m not sure, maye I’m just not getting the bigger picture so please explain…
Thanks,
Marizel
[Reply]
Kosta Reply:
December 16th, 2011 at 12:02 am
Hey Marizel,
That’s an interesting question and you have some good valid points here.
Here’s what I was thinking. If you’re sharing this info with an investor, it’s likely with someone who you’re going to partner with whereby they put up the money and you do the all the leg-work (ie. negotiating the deal, getting it closed, arranging contractors to do the renovations, finding a tenant, etc.) and you split the profits. In this situation, the investor sees the value you’re bringing to the table since you’re doing all the work and he’s just writing a cheque, I don’t see why an investor like that would bother trying to “steal” the deal from you.
There’s also the situation/strategy where you go ahead and get the property under contract and at that point he simply can’t steal it from you.
For your situation where you’re literally just “birddogging-it”, there is great risk in your fears being realized, should you share the numbers with him. This is not something I’ve ever done before (to be honest), so let me ask you – what information would you want hidden? I’m guessing the listing source (ie. Homepath), the address, and the asking price. Is there anything else?
Give me your input and I’ll see what I can come up with. I really want this software to help make a real estate investor’s life easier and more efficient so let’s brainstorm a little and see what we can come up with.
Kosta
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Marizel Reply:
December 16th, 2011 at 12:30 pm
Hi Kosta,
All your inputs make sense. So just to answer the last part which is “Bird-dogging”…yes, hide the: Listing Agent’s info, Address, and the Offer portions. That way,we can email blast it to our list(with NO FEAR! And regardless if the investor is a money partner, wholesaler, etc.) and whoever is interested will want more info…and Bingo! Makes sense??? I hope so
You’re doing a great job!
Marizel
[Reply]
Kosta Reply:
December 16th, 2011 at 6:22 pm
Hey Marizel,
Got it! Ok, I will think of how to do this. The trick is keeping both sides happy (ie. the birddogs and the investors looking for partners who will want that info displayed).
Give me some time to let it marinate in my brain a little. I’ve got some ideas but they will take some time to implement so I’m hoping I can come up with something easier. Again, the trick (for me) is trying to keep everyone happy … but I like solving these types of problems
Kosta