Birddogging vs Whoelsaling work?

Question

I was watching a "guru" on youtube speaking on birddogging. He was going on what you / me / someone should do when handing over the info on a house. A commentor to the video said, that the effort the person put in to JUST birddoging was too much and that if they went through all that trouble, then they should go ahead and simply wholesale the property to the buyer.

So my question is, since I am pulling comps, getting everything about the house except the architectural blue prints to the house, am I doing too much, and is what I am doing overkill for a lousy $500 - $1,000? :roll:

Andy M. · Answer

Kevin, if people are asking you for 5k to teach you then you are talking to the wrong people. You do need to put yourself in the shoes of the experienced investor though in order to understand... You need to bring some value to the table for them to take you seriously. There should be investors in your market who are where you want to be. Find them, find out how you can help them and make friends with them and you will learn from them about the business in your local market.

Tried an REI club?

Kevin Cardinale · Answer

It seems everyone that willingly offers to "mentor" here in Las Vegas, charge a going rate of $5,000 cold hard cash, up front.  I don't get it.  I have to pay you and get deals for you?  Hardly seems reasonable.

Manesh Hardeo · Answer

Kevin -- like Andrew said you can get a coach or mentor.  What we like to do is actually take the birddogger and turn them into wholesalers by literally walking you through and doing the deal with you.  After 1 or 2 you'll start getting the idea.  It's not rocket science, but there are also crucial variables you have to get right.  There are plenty of investors/experienced wholesalers that would be willing to help you as it will help both of you increase revenue.

And of course I'm sure someone here will be able to help you with any questions.

Good luck.

Andrew Massaro · Answer

There's a lot more to know than that, Kev.  Get a coach or mentor, who will help you understand what we do.  Trying to learn this business on your own, or by simply bird dogging, is a lost cause.

Just my two cents.

Kevin Cardinale · Answer

Yes, I see the difference, is minute depending on what caliber of birddog / wholesaler one is.

So now my question is, I am simply missing the contracts?  I just think i need someone local to just walk me through 1 wholesale and I'd be set.  The only reason I even bring up birddogging is because it seems a quick and dirty way to make $500 - $1,000, and I have no clue how to lock down an owner, i.e. the contracts.

Anson Young · Answer

A bird dog has the info, the wholesaler has the info and control of the property.  Who would you rather be?

Andrew Massaro · Answer

As a bird dog, you need to answer that question for yourself, Kevin.  If you believe you are worth more for the effort, and most importantly, the value you provide, then you need to sit down and renegotiate your fee.

In the past, I wouldn't require bird dogs to do what you do.  This is simply because I didn't trust a bird dog to effectively accomplish these tasks.  I would simply ask the bird dog to find a seller, and gauge their motivation.  Then, pass it to me and I would take it from there.

In addition, I would require the wholesaler you work for to teach you the business.  That's the real value in being a bird dog.  IMHO, the money isn't going to be substantial, if you earn any at all.