Hello everybody,
Im just starting out and I figured the best way to learn the ropes would be to become a bird dogger then climb the ladder in REI.
I purchased Barry Grimes material and i must say im very satisfied.
But i wanted to get some input or advice from experienced investors in regards to a beginning bird dogger.
Any response would be greatly appreciated.
Thanks
TXrookie
Congratulations
It’s a fun job. I consider myself a bird dog,…just that I’m a licensed R…
not to say that you should get licensed
///pro
In my case, being a R. has really helped drill in the tranaction process.
But more importantly, when your clients are all investors, you get to “play” investor and still get paid.
I’m closing (I mean my client) on an 850k deal this friday. I’ll see about 1.25% of that (splits on larger transactions are often smaller. plus there’s a cut with the broker) and my investor gets a smoking deal on 6 2plexes; 5 acres, with space to build 2 more. Properties are still reletively cheap in Round Rock and the county (williamson) as a whole has been growing at a VERY healthy pace, steadily.
…So, what could be better? You can coordinate a deal from start to finish, get paid well, team up with your clients and invest the money you make from commissions. (speaking mainly of MLS deals of course)
\\con
You gotta know/meet investors. Good ones. Those who know when to fire a smart, quick offer. Here in Austin, a good deal on the mls will have over 10 offers the first day on market/CDOM/ADOM. True, there are more good deals from distressed owners off-mls than there are
ON-mls, but it’s foolish to ignore listed properties. anyone who’ll pay a large% to list has a certain level of urgency with their price and/or terms.
Sorry to ramble.
Bird dogging is fun whether you’re licensed or not. There’s so much to do, it’s a fulltime job any way you look at it.
Our market:
AUSTIN IS THE S***. For Real estate and social life
Austin is projected to have a job growth rate of more than twice the national average through 2006-2007. Our listing inventory has fallen below 9,000 for the first time since 2002 and it’s heating up, some areas already red hot… Get in while it’s still cheap.
– U.T. –
Rich from oil, alumni grants and knowledge=power. Incredible programs… a mecca for progressive intellectuals from all around the globe, helping make Austin the only truely “liberal” city in TX… about 5o,0o0 students too. (speaking in a PURELY non-political since, using the literal meaning of “liberal” found in a dic.)
…Too much to list about the Austin market…y’all.
Thanks for the reply Mark!
Ive been bird dogging part time for about 2 weeks now and i agree with you…it does seem like a fun job. And since i work in construction i think it will be easy for me to work with rehabs and other types of REI later on.
I currently reside in the Dallas area so i dont really know what the Austin market is like but from what you say it sounds like its great.
What i like about the dallas/ft. worth is that its huge and diverse. It has just about every type of community for anyone out there so i think its a great place for a bird dogger to start.
Again, thanks for the reply.
Anymore advice or input from investors out there?
TXRookie
Dallas Eh,
Not to far away.
Oh, and if you havn’t already, you should definitly hear the audio on offered on this site with SCOTT RISTER, the "redneck real estate investor from mckinny(sp.??), texas (DALLAS AREA)
It’s free and he’s pretty funny.
thanks,
mc
I just finished listening to the Scott Rister audio. it had alot of info on finding motivated sellers and it was also funny. free info is always appreciated when youre starting out.
thanks mark!
jg - TXrookie
Hi Mark,
I just moved down to San Antonio, and I have been thinking about getting into bird dogging. Fine living is always playing great shows about Austin…and the music is great!
Mark,
Austin is the area we were looking at first. Though we are hearing lots about Ft. Worth, Houston area etc. Our concern is the rental market and the job market in Austin. We are comfortable that Austin is the capitol and jobs will always be there, we are not too sure about the outlying suburban areas and what jobs are there…any help would be greatly appreciated!
Thanks, Joanne
would it be wise to get your investors to get some sort of contract guranteeing that they will pay you if they buy one of your houses you send them. I have a list of houses and three investors which i have been introduced to. only problem, if i turned over this property list to them, how do i know i will get paid if they buy any of these properties?
You may find that many investors are surprisingly honest.
But, you should try and get your name IN the contract, in my opinion.
…Under “special provisions,” Somthing like: “Purchaser [or seller] to pay JoeBob $2,000 from the proceeds of the sale at, or prior to, closing as payment for sufficient procurring cause.”
This way you’re on the sales contract and it’s hard to get screwed.
Does this help?
yeah that information on contract help. where can i listen to that audio that you are talking about
Here’s the link for the Scott Rister audio…
http://www.reiclub.com/authors/Scott%20Rister.html
TXrookie
What area will you be working in?
Thanks so much everyone for all your responses. We have found a realtor who can work with us in Texas.
Thanks again!
anyone know of a dallas based investment group that is paying for bird-doggers referrals. their was a company that contacted me out of dallas, but i lost their name and number when my computer started acting crazy. the company is based out of dallas, they pay referral fees of about 250-2000 for property. if anyone have heard of such companies are know of any please drop me a email - callhimtyrone@yahoo.com or respond here.
thank you
How did you find this realtor & what are their conditions?
I’m under the impression that everyone has a condition of some sort :
lol
We have a downtown Houston property that has 60 condo conversion units left out off 108. It is right on the light rail. Owner will gurantee a year’s rent on a bulk purchase.
Call 713.526.3222 to get info and rent guarantee.