I once employed several people in my office to go out and scoure the countryside for deals.
Most of them are now currently full time real estate professionals.
Because, ive gotten a bit more experienced and have built a reputation in my market place (hopefully mostly good), i have more deals comming at me that I could ever ask for
So, then I turn around and wholesale deals, typically for very little if any margin, but thats what keep the machine going
without bird dogs, or someone who is willing to try because they simply dont know any other way, and without a site like this, and others to support them, and without people like russ, carlton, and robert (2) pitching thier roads to easy riches on late night tv,
without these things, we would be a pretty slow industry
Bird dogs are a big big part of my real estate network also. The better they are the better you will be. Thats why I think it is important to continually teach them.
citing an earlier project i worked on, once I started a track record (only a success of one to start with), I would work hard to get homeowners around that property (little old ladys in that lived around the house and liked to come out and tell me about the deadbeat I bought the house from) to believe in what I was doing.
nearly a decade later, these little old ladys call me with referrals
i like to think its because when i score a deal they refer, they know ill come over for tea and cookies to tell them about my next adventure
while i am currently working on establishing/improving my credit before i actully purchase my first investment property…what is a good way for me to get started in bird dogging to make some extra cash?
Go to your local real estate club and network with some investors. Find out what types of property they like (sfh, duplex, etc…) and what area type they like (low-working-middle income). Work out with them a bird dog fee if you find them a deal and they close on it. Really focus on finding deals for those guys who like the low income area because there is much more inventory there. Hunt down some deals for them and get paid. You might want to buy a book to learn how to find deals but you can look for vacants and market to lawyers, bail bondsmen and nursing homes to find some phenominal deals.
Hope that helps. I would write more, but I am late for something as usual.
I work with tons of bird dogs at one time. I do not set up offices for them. They just find properties and call me with them. Bird dogs will be people like mailmen, police officers, code enforcement officers and people in the neighborhood.
