So Lamar, and by the way great post very informative, do you think or anyone for that matter think beginning wholesalers can use birddoggers for their benefit?
I mean bird dogs seem very valuable :bobble and the roles between the bird dog and wholsaler seem very similar. So is the main difference between the bird dog and wholseller that A birdog brings a potential deal to my attention and i can either buy or resell do whatever, versus the wholseller ties up the property under contract and then is able to sell his position for a higher profit?
All the post on here are priceless thanks for the info :beer
Wholesalers can definitely use birddogs to their advantage! Without a doubt! :beer
The key difference between a birddog and a wholesaler, is that usually the birddog finds the deal and the Wholesaler negotiates, handles paperwork, and closes the deal. Typically, the birddog gets paid when the Wholesaler gets paid. As for the amount, that is between the Wholesaler and the Birddog!
I loved the to the point, common sense article, . Can you or someone else go into more clearly how to find investors who are willing to work with new people to birddogging ?
It all depends on the investor that birddog is dealing with. Normally what I’ve seen and experienced is that the birddog gets paid when the Wholesaler gets paid. This is due to the fact that the wholesaler will take a cut out of his profit in order to compensate the birddog for bringing a deal that actually closed. Some may argue that the birddog already did they’re part by bringing the deal to the table, however there could be many variables that could cause that deal to fall through, therefore causing someone to lose money. Nobody wants that to happen. Therefore that could be why it’s normally structured in that manner. Again, this is just my own personal experience.
Wow, this thread has a large amount of information I was looking for. Im just starting out and have read many posts and articles on this site but also would like to buy a book or course on bird dogging.
I think Im going to get that course. I have heard other people also recommend it as well. I want to start bird dogging then move onto Wholesaling :bobble
Lamar… I see where there is supposed to be classified section on REICLUB, but me being a guy, I guess I can’t find it. Maybe I need to have my wife help me. :smile
I am looking for bird dogs in Pittsburgh and Cleveland to help locate apartment buildings 20 units or more. I don’t know where to post! Can you or someone help me out? This post has been very informative!
Thanks, Bill :anon
[quote author=Lamar link=topic=31214.msg144732#msg144732 date=1188617949]
The purpose of this posting is to give you Birddogs (Property Locator sounds better) a little help in getting started in the birddog world. I just want to outline your responsibilities as a birddog and how to avoid pitfalls, which may discourage your efforts.
STEP 1. Find an Investor to Birddog for.
-You can find investors anywhere. ReiClub is a great start. [shadow=red,left]Look at the Investor Ads for your state[/shadow] and find out if that Investor gives out referral/finder fees for properties that you locate for them
- You can alsways advertise your services in the [shadow=red,left]REICLUB Classified Ad Section. [/shadow]
Hello, i’m new to the board. Great discussion! This may be a no no, but still with tax season … How would you file bird-dog, wholesale income? What general field/activity, real estate; other? Type of service and customers?
a) property locator for real estate investment companies
b) consulting to real estate investment companies
c) real estate investing
d) other ideas
I haven't been on in a while, but I just saw your question. I try not to involve myself with these type of questions, because I am not a tax advisor.
The best advice I can give you is to talk to a CPA. Some states might handle this matter differently, but just talk to your CPA and they will handle everything for you.
This is exaclty what I did when I recieved my first birddog check.
Trust me, this isn’t complicated at all and you actually should be able to get a free consultation regarding this.
This is a great post! thanks for sharing. I have a question tho…
How does on bird dog for REO properties? I have some REO properties that I am currently reviewing and still not at the point where I can invest personally, but they are great deals. Any advise on this will be much appreciated.