BiggerPockets

What is it?
What does it do, and how?
What should I expect to do, if I were to be one?
How do I get paid--do I get paid?
I'm trying to learn and understand this...
Thanks,
ofgift

A birddog specifically works for investors locating properties that match the investors criteria. Some spend more time involved in the deals than others, but a lot of this is dependent upon the states laws you're working in and what is regulated and what isn't.

I spend my time locating properties for investors through all kinds of different venues. I have networks of investors who send me deals, I work with bank-owned properties, preforeclosures, and pretty much any other kind of property you can think of and I locate them through almost every way possible.

Again, depending on your states laws, you may have to get your real estate license to ensure you're legally covered and that you avoid any issues that could and do come up. This will change how you get paid as well. If you have your license, you'll be paid through the broker who holds your license. If you do not have a license, you might be able to charge a marketing or consulting fee to the seller or the buyer. You can secure this through a fee for service agreement between you and the payee.

I hope that helps, but am sure you have a million more questions. I started birddogging without a real estate license and worked as a consultant, but needed more protection for the services I was providing and finished my license.

In my opinion, you'll want to drum up your own list of investors. You can do this through your local REI club, creating your own investors, networking with other agents, getting out in the field and talking with investors as you see them working and on and on.

The key is providing what the investors want and need and giving them as much information as possible to make their decision easier. I know tons of agents who say they work with investors, but who do nothing for them. It takes a lot of research on a property and if you reduce someones leg work by doing a lot of it for them, you're likely to get repeat buyers and as a birddog, that's essential.

The next thing is knowing what types of deals abound in your area and being the first to them. You may be a great area for appreciation or cash flow or flipping, but if you don't know what sets your city apart in that way, you'll never be able to turn them as you wish. What sets your city or area apart?

You aren't the highest, but you're close:

http://cbs4denver.com/business/local_story_044110836.html