Hello All, :biggrin
First let me start by saying I’ve been a fan of REIClub for alittle over a year browsing thru the forums from time to time.Well any way im 24 with a family and a 9-5 job and want to start my career in REI but with little knowledge(im more of a hands on learner) thought it would be best to start birdogging first to gain hands on experience and pocket alil cash on the way to save for my start at the Investing side of things. Problem is I dont know how to begin :help like how do I go about finding investors to talk to about letting me birddog for them? and exactly how do you birddog? :anon seems like a dumb question but throughout this forum i havent come accross the topic that really breaks it down on what to do. I believe its more than just handing someone a name/address/phone number.Plus i work mon-fri 9-5 when is the right time to do this?
i know im asking pretty dumb quesions but please respond people :help its different when responding back and forth with a person than apposed to reading a article… i just need a basic description of what to do and how kinda like a push to help me see it through.
Chuck, Its not a dumb question but let me ask you one. You’ve been reading here for a year and have no idea? Read some more and use the search function. Buy a wholesaling course would be a good idea.
Herbster from Kalamazoo.
thanks for the advice herbster!!! well i know a few things just needed some clarification on how to set the deal up to present it to someone. like how do i calculate everything that i need to and how to spot a good deal from a bad deal???
Chuck I was once in your boat too.
Bird dogging is OK, but the only difference between wholesaling and bird dogging is about $10k a deal. You would still be talking to the same investors, still be looking at the same houses, still be using none of your own cash, but instead of telling another investor about the property. You put the home under contract THEN tell another investor about it.
The only difference that I can see is “Perceived Risk”, meaning risk that you perceive is there, but it isn’t. Basically with the right contingencies, the only risk is that you do something stupid, like not have an escape clause.
To answer your question about finding buyers I think there’s some pretty decent posts in here about that.
:biggrin Woow!! I never looked at it that way. So how do i structure a deal together? what kind of contract/or contracts do i need to do this and what calculatns do i need to do on a property to make it a worth while deal? like if I seen a $100,000 property what calculations do i make to make the deal work?