Can anyone please explain the process of “birddogging”? I would really appreciate this. I am moving to TX from CA and a beginning investor and know how to do some things, but this sounds very cool. Any help would be greatly appreciated!!
Kenny
If you haven’t already, check out the Free Investing Books section for the RE Jobbing e-book.
Howdy Kenny:
Birddogs point out deals just like a hunters dog points to a flock of birds. Here is an example here in Killeen. I just met a guy who drives around looking for used appliances to haul to the scrap yard for some extra money. While he is driving around I asked him to look for vacant property and FSBO signs and I would give him $100 for each deal that I buy. All he is doing is finding names and address and letting me contact the owners. Some may be overpriced or sold or whatever but it does not matter to him. He gets money if I buy. If he were to contact the owners and get them under contract and then try to resell to be he would be a wholesaler.
I hope this helps some. LOL
Bird Dog looks for HOME OWNERS. A good Bird Dog can filter the motivated sellers from the unmotivated. The best Bird Dog can contract a very low price and sell the contract for a good profit.
I have four “Finders” that bring me about 10 properties / month each. I pay them $10/property (photos, property condition sheet) and $1K if I buy it. That’s pretty standard in my area although many only pay $500 which is still reasonable for simply finding junker properties, listed and unlisted, and FSBO’s. I’m always looking for more.
Good luck in your new area. If you decide to go to one of the investment groups maybe I’ll see you there.
SDCIA – www.sdcia.com
NSDREI – www.nsdrei.com
Thanks for the info, guys. That seems to help out quite a bit.
Another question: How does it work for jobbing? I read that we have the “money man” lined up and find the deals, then go to them and basically sell them for a flat fee, $5,000, whatever. Is that also doable?
Kenny
P.S. Ted, I will be out there in a week or so and look forward to meeting you.
i too inquired about bird dogging a few posts below yours. you may want to read my questions and they reply i got. the reply was perfectly explained. barry j grimes has a course on here, as you will read. i read the “free” ebook from barry, and i think it may very well be the answer im looking for. it might help you out as well. look into it.