Hello everyone at REI… I’ve been reading real estate books, studying marketing techniques, learning the game first hand from my mentor, reading articles on this forum, listening to cd’s and cassets, and also i just recently joined my local Real Estate club and now i think its time to get the ball rolling!! Im only 19 years old and im about to graduate high school very soon and start attending college… That being said i would really like to start my adventure into the world of Real Estate! … I have the summer off currently and my goal is to complete one deal this summer being a bird dog… I currently have a budget of around $300/month for marketing and would like to have some advice on how to properly invest it to create my first deal. My mentor that i will be Birddogging for currently concentrates on lower end/ middle class houses that arent in the greatest shape… houses facing forclosure…distressed properties… My mentor basically buys low… does cosmetic work and a little more sometimes and basically wholesales or assigns them… so that being said can anyone give me some words of wisdom and put me into the right direction of success!!
P.S… i plan to call some of the bandit signs posted around my area and build a larger buyers list… and also try to build my buyers list larger at my REI club meetings…
I have the summer off currently and my goal is to complete one deal this summer being a bird dog
My mentor that i will be Birddogging for currently concentrates on lower end/ middle class houses that arent in the greatest shape
Why do you need $300/ month to find one deal for your mentor?
Is it legal to compensate a bird dog that is not a licensed rea?
Yes, a bird dog simply finds a property for an investor. They don’t act as agents. Their compensation is a finder’s fee.
Well i was going to use that 300/month for marketing (my budget for finding leads)… bandit signs, flyers, postcards, ect … then once i started getting phone calls i was planning on screening out the calls and selling the leads to investors for a finders fee… then eventually once i learned the buisness well enough i was planning on acually signing up the deals my self and wholesaling them once i have enough expierence…do you think thats a good idea or is there a better way?.. thanxx
Steve raiken
There is always a better way Steve. Your idea is not a bad idea at all. If it works for you then good luck. But don’t wait until you know everything before you get really started investing because that day will never come.
-Danny The Great or King Danny (whichever you prefer)
Thanx for the advice danny! Tommrow im going to do some driving around and choose some farm neigborhoods to concentrate my efforts in! thanxx guys! ill keep everyone updated on how i do…
Steve Raiken
Havent you asked this before??
Bandit signs are really expensive and will probably take up all or most of your $300 budget. *EDIT I did find a good deal for them on ebay http://cgi.ebay.com/10-ONE-SIDED-Telephone-Yard-Signs-Bandit-Signs_W0QQitemZ190008093984QQihZ009QQcategoryZ20946QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
Call your tax assessor and see how notice of defaults are published. In my state (VA) they are published in the local newspaper, thats how I find my leads. Also, EVERYTIME I drive through a neighborhood my eyes are so open, looking for the tall grass, boarded windows/doors and all the other signs of a great investment opportunity.