If you're a real estate agent looking for deals for an investor, then here's a few Analysis Settings suggestions you can use to optimize how you use BirdDogBot so it fits your business model.
- Go to Settings > Search & Analysis Settings > Analysis (tab).
- Set the "Analysis Type" to "Advanced Analysis".
- Set the "Desired Profit" to the profit you want your buyer/investor to earn from this deal. As a real estate agent, you need to make your properties look attractive for the investor, so use the "Desired Profit" to show them the money they could make on this deal.
- Under the "Expense Estimates", set the "Closing Costs" to include your commission (along with the commission of the seller's agent), for example 6%. You may also want to add a few additional percentage points on top for other closing costs such as fees paid to the title company, title insurance, etc. Although this is expressed as a percentage of the ARV, keep in mind that the buyer is only going to pay the commissions when they sell the property so that's why we include it here relative to the ARV rather than the current asking price.
- Under the "Expense Estimates", set the "Acquisition Fee" to 0, assuming you don't plan on charging the investor any additional fees. If you want to charge additional fees, add those here. Remember again that these are expressed relative to the ARV, not the current asking price.
After you run your searches, review the deals BirdDogBot has found and make any necessary adjustments to your numbers and estimates by editing the deal on the property's proforma page. You can also edit other details by using the editing capabilities shown in the "How To Add/Edit Your Own Deals" video.
Once the numbers are ready, you can now share your deal using any one of our Deal Sharing Features.