Bird Dog Question

Hello Everyone,

Greetings from Taji, Iraq! I have been looking over this website for quite some time and I am amazed by all the information in this website.

I’m looking to get into real estate investing/bird dogging full time when I get back from my combat tour early next year. I have a huge question regarding bird-dogging.

Is it legal and does it require a license if I advertise for tenant/buyers for lease2own properties, and if I don’t have a fit for them that I would turn the lead over (with all pertinent info) to another investor with a property to fill for a fee? Of course, with the tenant/buyer’s consent.

Would that run me into any sort of legal or licensing troubles?

Thanks in advance, keep up the great work! 8)

  • Jay Medina

Yes, it’s legal and very lucrative with no licensing requirements.

The only thing you need to make sure you
do, is to have a contract on the property
that you are marketing.

NEVER market a property that you do not
control, either via Option Contract or a Regular
Purchase and Sales Agreement.

If you’re looking to get buyers or to build your
buyers list to refer to other investors, then I’d
make sure to get the investors property under
contract/option before sending your buyers to
him/her to make sure you get paid your fee.

It’s good to have everything documented…

I believe that birddogs are getting as frustrated with the current state of the Real Estate investment market in the DFW area as many rehabbers are. I understand that many of you are professionals who take the time to look at a deal from the perspective of the rehabber and only put a contract on a house that has enough room, after your assignment fee, repairs, holding costs and selling costs, for the rehabber to make a decent profit (typically 15 - 20% of sales price).