Bird Dogging beginner in need of Investors in Hot Metro Atlanta Area!

As others, I’m new to Bird Dogging and am having a hard time finding REI’s in my current niche market. I have several high-end properties many with under 75% LTV! My problem is, I’m unable to locate investors who deal in land development or residential properties over a million dollars. I’m attending my first GAREIA meeting this Monday and hope to have success there, but am hoping to find other methods of connecting with these individuals…

Thanks,

Triad

As you probably know, the most that people will pay for a property, especially a “pretty” house, is influenced greatly by the “days on market” (DOM) average for the neigborhood.

Higher-priced homes, especially in Atlanta (I live not too far in Alpharetta), are not selling particularly fast. If your carrying costs are 1.25% per month in interest, you really don’t want to be owning a house for year if you’re in at 75% LTV.

Anyway, you mentioned that you “have” houses for sale. If you truly control the properties, have you tried just placing the properties in MLS and trying to market and retail them yourself? How about an auction? (You can always have a reserve price.)

Or are you dealing with million-dollar homes that need renovation, too? I guess I don’t recall seeing too many of these.

As for land, I don’t know much about it, but I think in the land market, what someone pays for it truly is what it’s worth. I don’t think land is one of those things that you can buy at true wholesale, but I confess that I could be wrong here. I just think land is a completely different animal.

What markets are you currently scouting?

Thanks for the insight and info. I do not control the properties but do have exclusive rights to the majority, but we all know what can happen without control.

Yes, I’m dealing with a couple of properties that need renovations as well. Actually, my hottest property needs around 100k worth of work but has attracted plenty of interest.

I’m currently scouting the N. Atlanta, Roswell, Alpharetta areas, and am wholesaling properties throughout the metro.

Please feel free to put me on your mailing list if you have real deals. I was almost burned on an Atlanta deal about 6 months ago, so rest assured I will exercise extreme due diligence. Please don’t make the mistake of putting me on your list otherwise at the peril of your career. I know what’s happening in Atlanta, but would be happy to do business if you have real deals. Consider your lack of response to be extremely detrimental to you.
Fair enough?
Dave

Dave,

Sorry you’ve run into one of the many sharks in this industry, but rest assured that me and my company’s reputation and good name is more valuable than that. I plan on being an extremely successful REI and won’t fall off this horse before it leaves the gate. So with that said, I would love to add you my list of investors. If you don’t mind e-mailing me the type of properties your interested in, I can get some properties over to you right away.

Thanks,

Triad

Sounds good, Triad!
Didn’t mean to come off as hard core as I did; I just wanted to ensure that were you one of those that I was onto you… :wink: Things are a little loose in Atlanta right now, know what I mean?
My market is primarily bread and butter 3/2’s for median income. Overencumbered is fine as well, as long as there’s no rehab involved.
Regards,
Dave