BiggerPockets

curious...what is a bird dog?

awesome. thanks! and how are the fees determined?

in that case, Any investors out there need any birddogs? Can definitely find some great properties in Northern NJ!

i dont run around for an investor looking for real estate, but i help a mentor SELL real estate. Is that also a bird dog? 8)

A bird dog is a dog that hunters use to scare pheasants into the air and to retrieve the fallen birds. ;-)

Well then get on yo-knees-be-at-ch and I'll teach you how!

http://forums.biggerpockets.com//viewtopic.php?t=9497

Maybe this will help.

How Bird Dogging (Property Locator)in Real Estate Works
Bird-Dogging (aka Property Locator) is a one way to get your foot in the door of real estate investing. It is a great way to take your interest in the real estate world and gain both some experience and income. And if you do it correctly, it's risk free. Investors will pay you a fee for finding houses for them to buy! When you find a property that meets their criteria, they will have you do some basic research about the property and then provide them with the info you collect.

Usually, investors will ask you to find out information about the condition of the property, market value, the current owner(s), what it might cost to fix the property up, etc. After gathering all of this information, you then present it to a real estate investor and if they end up purchasing the property, you get paid a finder's fee!

Here's how it works....

Write down phone numbers you see on all real estate that has "For Sale by Owner" (aka FSBO) signs and then call them and complete a Property Profile sheet (data collection sheet). There is a sample provided in the appendix.

When you see abandoned houses or other types of real estate, write down the address, then try to locate the owner's name and phone number (this information is typically available through the county's website) then fill out the Property Profile information sheet.

Submit the sheets to your group of real estate investors either by fax or e-mail (some investors have these forms set up on their websites).

Investors will review the sheet, and if they end up buying the property, you get paid!

There are different levels of Bird-Dogging.....

Locating and analyzing real estate: Now, Most investors do not pay Bird Dogs for just handing them an address and a phone number. They want them to see the homes, to talk to the owners, to do their best at negotiating the best price they can. They also do not pay for MLS leads; the only time they pay for an MLS lead is when someone has the property under contract at a fair price. A good investor will pay their Bird-Dogs to bring them good and useful information to determine a deal. So if you are interested in raising your productivity a bit, train others to do what you do and pay them well for it.

Locating, analyzing and getting the property under contract: These Bird Dogs locate deals by putting ads in papers, driving neighborhoods, putting up signs, mailing postcards, etc. When they get calls from sellers and the deal looks good they actually get the property under contract and then present the deal to investors.

Yes, you are correct. Getting the property under contract, and then selling the contract, would be considered wholesaling by most people. There is some debate over the difference between flipping and wholesaling - I see a lot of people differentiate the two, while others co-mingle the terms.

Bird Dogging in the truest sense is a property locator and does not get the property under contract. Wholesaling is a logical progression for a Bird Dog to advance to once they gain more experience.

Mark

If u have to get the contract arent you the real estate agent I am confused about that.