Hi all,
i’ve been reading for a while about wholesaling, but i am still missing some info. i want to use birddogs and i was wondering what should i tell the birddog other than the general info. Should i have like a check list that includes the areas that the birddog have to look at in the property and what needs to be fixed + the other info about the property?
I don’t know if there is anyone from Texas here or not, but i want to know if there is any legal requirement to work as wholesaler. I am wondering how do wholesalers file tax by the end of the year
:biggrin Hi Jimmy,
You need to be very clear and give your Bird-Dog your specs and preferences so that they can target only properties that they know you will want. This way they’re not emailing you useless properties, wasting their time and your time…
I am not from Texas but I am an active Bird-Dog who lives in California. I Bird-Dog for a few people in California and a few people in other States. I am also into the investing part, actually getting the wholesales into my name and flipping them. There is no legal requirement for Bird-Dogging or Wholesaling.
If you have an RE license though, it will definitely work against you in the investing world, all it does is create all kinds of dumb requirements and restrictions and stipulations for you… :eek2
Good question about the tax filing, HEY EVERYONE, would that be considered a 1099 filing status? I wonder if we can just figure the taxes out ourselves each month and just send the money off to the IRS each month…HMMMM things to think about…help us out here PROS!!
:banana It’s Peanut Butter Jelly Time!! :banana
You definitely need to let your bird dogs know what type of homes that you are looking for. If they don’t know what they are looking for then how are they supposed to find it?
I have wholesaled countless homes and use a 1099 for my tax filings. If you start getting successful be sure to talk with an accountant about paying quarterly otherwise you could be penalized.
Thank y’all!!
One more question, how is the wholesaling doing in todays market?