:shocked I have to admit…I am one of the ones out here that is scared to jump in. I know how to find the properties, I am even pretty good at negotiations, my biggest fear??? Not being able to just turn the thing over for any type of profit…crazy isn’t it? I would love to just make a couple grand to break the ice but not sure if, or how to move the property when I get one, oh by the way I am in the Florida market. Any constructive thoughts…my wife has a few but we can’t print those here!!!
Start by bird dogging them for a quick $500 to $1000 fees to build some confidence, then move to wholesaling.
This is a slightly different question, but what is the difference between bird dogging and wholesaling? I have a friend who thinks they are both the same.
I’m also looking at something like this as a way to start…
Birddog is someone who finds a good deal for other investors to close on. For example, fellow wholesaler in town found a house that did not fit her wholesale numbers but she knew I do sub2 and can buy up to 90% LTV. She called me and gave me the contact information for the seller. I talked to the seller, negotiated a deal and paid her $500 when I bought it, and another $500 when I sold it since it turned out to be an excellent deal. Thats bird dogging…
Wholesaling is when you find a property, negotiate a price for it, and put it under contract. You then turn around and sell the contract to an investor to rehab, retail, rent…etc.
Everyone should try to birddog the deals they can’t wholesale because it is extra cash you are throwing away.