Question for the Bird Dogs

This question is for all of the new bird dogs who have been at it for awhile.

How did you become a bird dog?

I’ve read that bird dogging is the way to go to get started. Would you agree?

What all is involved in bird dogging? Is it as simple as just looking for houses?

On a scale from 1-10. What is the difficulty level?

I will one day become wise enough in this business to help others as you guys do.

Thank you so much for you time!!

Karen

It depends on the investor. Some might start you out putting up bandit signs and driving around with a magnetic sign on your car. Others might expect you to do your own marketing and networking and bring quality leads to them

Obviously, the compensation levels are different.

Hi Karen,

You could call some of the ads around your town that say we buy houses. They are always looking for good deals and will pay decent money for them. Just tell them what you are looking to do and they will give you what they are looking for. Then you can start searching for propertie that meet there needs. Fees vary anywhere from 500+ depending on the deal. Where are you located? If you want more info you can e-mail me.

Good Luck,

Scott

Hello all! I am a realtor and I am interested in Birddogging. I have a friend that is not a Realtor that is also interested in doing it. How would you suggest we set this up so that no ethical lines are crossed?

I am not sure how it would work since you are a realtor. Contact me if you want more info on birddoggin.

Bird dogging is good if the investor is teaching you , if not then no.

I started by bird dogging , learned alot but lrant much more on forums, and I figure why give the lead up for $500 when I can get it under contract and re asign for 5k.

So Now I wholesale, same amount of work, more money but of course more risk, but not much once you know what you are doing.

Good Luck!!

I appreciate the responses.

rbw: How long did it take you to move from birddogging to wholesaling? And did you learn the in and outs of wholesaling from this forum, from your experience as a birddog, or from a course?

Thanks.

I have a question. If you are wholesale, did you have to purchase the property before finding the investor. Or did the contract applied a clause for much time limits so you can find an investor.

For example. If I find a property where the profit margin is 30% after repairs, etc… I have the seller under contract, the closing date is in 60 days. So in this time is when I find the investor and assign the contract?

If this is the case, well I have tons of deal that needs my attention.

That’s exactly right, Abstractor. You basically enter into a standard purchase and sale agreement with the seller, include the “and/or assigns” in the buyer field, and then find a rehabber who’s willing to purchase the contract and your assignment fee. The assignment of contract is a separate form that you and the rehabber sign. In that form is the agreed upon assignment fee that the rehabber will pay you at closing.

The best way to do these deals is to have a “buyers list” of ready and willing rehabbers (or other investors who buy and hold/rent/lease). It’s much easier to call the folks on your buyers list than to shop the contract around in public.

Here’s a link to a really good teleseminar that Vena Jones-Cox gave a few weeks ago. She’s known as the “Real Estate Goddess” to the REI community.

http://reiclub.com/authors/jonescox/reiclub090705.mp3

Right-click on the link above and click on Save Target As… to save it to your computer.

Hope this helps!

:o Hello To all I’m a property locator . A bird dog. If you have an realestate agent broker or a investor helping you it better and more money. We are working on this deal that my investor a broker and realestate agent are all getting 31thousand dollars from it. Now for you to get that type of money you have to have an agreement with all parties involved. The property is something my investor didnt want so i found a broker who has investors that wanted the property. So we all agreed we would slipt the money. You dont have to only get 5 thousand dollare .BUt it also depends on the deal. his deal . The deal i’m speaking of is 6.6 million is what the investor is buying it for. I’m from NYC

Hello.

I have listened to your post that you have placed for the teleconference from the Goodess of Wholesaling…

It was great!! I learned so many things about the business and how to look for deals.

My question is, would you happen to have or know someone who has the slideshow (powerpoint) presentation that she keeps referring to in the conference? This would be greatly apprieciated in my quest to explore and learn more about wholesaling.

Thanks for your help.

Jason

It looks like it’s still hosted here: http://www.reiclub.com/authors/jonescox/venappt.ppt

Enjoy!