I am a relatively new investor, and am trying to find wholesalers and birdogs. anyone have any advice aside from placing ads in craigslist. i am in orange county california, so we’re loaded with investors. trying to find a way to find birdogs and wholesalers who have properties at 70% ltv or better. i know these deals are out there, and i spend time finding them myself, but I need them coming in more often.
I think you just need to get the word out to friends, relatives, acquantances, etc. that you are an investor. Let them all know that you pay a finder’s fee. I figure once you pay the fee, the people are hooked. Obviously, everyone has their ways to communicate what they do.
I’m just starting to do that myself. I figure everyone doesn’t mind making a little extra $.
What is a good fee amount?
For Example, I just met a guy yesterday that has the contract on mowing all the lawns for a neighboring town that are vacant and ugly homes. I told him that I would pay him $500 for every lead he gives me that I close on. Is that too much, too little?
This is a good example of letting people know you are in the business, I met him at the tire place while I was getting some tires replaced, made small talk found out he mowed lawns in the neighboring town (good town with hot market), by the end of the conversation I got a good deal on lawn care for any houses I purchase there, possibly got a good birddog out of it, and found a lot of handymen/local contractor contacts from him. I gave him a card and said good day.
My point is talk to everybody, absolutely everybody knows somebody that owns a house, and every once in awhile they know someone that needs to sell a house.
Hello, I don’t know if you have found the answer to your question but I was wondering if you were looking for those 70%LTVs in Orange County?
A great place to start is your local REIA - Real Estate Investment Association. REICLUB.com has a link to some REIA’s in California. You definitely need to get to your local REIA.
You can also call the “We Buy Houses” people in your area and just network from there.
Good Luck
If you are looking for homes to buy then I would first line up a group of buyers first. I would line up buyers first because if you are spreading the word that you are looking for homes, then when a good deal comes up, you need people in place to buy, otherwize it wont look to good to the people that brought you the deal.
Eric Medemar