I like when I get referrals on a house but why would some that knows about wholesaling be a bird dog for a lower fee?
I can see it on the first 1 or 2 deals but not after that…
Maybe I’m missing something because I’ve been wholesaling for 1 1/2 but never bird dogged unless they are the same thing.
Junkers:
Some people simply start out bird-dogging, some wholesaling and some like myself just jump in and retail… Knowing what I know now, if I started over I would get a real-estate license. I would then make money from listing properties and wholesaling investment properties to other investors. I would then take a course on ‘Rehabbing’ from someone like Robyn Thompson or David Lindahl…
I learned from the school of hard-knocks… Do you know what happens if you purchase a property on septic and the sewer is within 100’?? How about if you purchase a property on septic and the tank is made out of brick? Do you know what the new FHA regulations are? How about if the meter is pulled?? What about if the house needs a new roof and there is existing space sheathing?? What about if the house has the old style glass bulb type circtuit breakers? FHA has regulations on this as well. My favorite is when the property has been vacant for an extended period of time and the zoning has changed.
My point is you jumped in and started wholesaling which is a great thing. Now follow the rehabs on the properties you wholesaled and ask your wholesale buyers a million questions so that when you start ‘Retailing’ you wont make the mistakes I have made listed above… By the way, the house on septic, the sewer was 90’ away and I had to hook it up at the tune of $25k!
Best Regards,
Jeff Adam