Just Starting. Should I hire a bird dog?

General Real Estate Investing
1

Hi,
I’m trying to get into rei. I have been researching, asking questions and reading the forums. I’m afraid that we are in a saturated investor market and aren’t finding many deals (we are in Atlanta). I pulled a foreclosure report, marked off a few properties after seeing them, and went for a trial run at an auction. I was overwhelmed by the amount of bidders and the disorganization. My questions are as follows:

Does anyone use the Atlanta Foreclosure Report and are there better reports for property in the Atlanta area?

Can you notify the owner whose property is going into foreclosure this late in the game to deal (report comes out 3 weeks before auction)?

What are the advantages of auction bidding? (I’m not so sure about a significant $ cut because some were going for close to retail)

What about Asset Managment Companies?

Thanks for the help
:-[

2

Sorry, by asset management I mean REO management companies!

3

Pardon the question but what is a “bird dog”?

Thanks,

4

3 weeks is enough time if you have your process in place and your financing set up to move that fast. I don’t see any advantages to auctions. If you win you paid more than anyone else was willing to pay…

5

Click on the Investing Glossary link to the left.