My first question is bird-dogging illegal in North Carolina. I was thinking of being a bird dog because I was in the process of writing my business plan for my future real-estate investing business in which I build my rental portfolio( empire) and it finally dawned on me that before I start my new venture I need a good foundation and then build on it. I don't have any experience in investing in real-estate. I have read only 4 books on the subject. I need to be able to learn to find excellent deals, put them together and give them to investors. I need to learn to read numbers and do a deal analysis. My Second question is do i need to get my real estate license in order to be a bird-dog for an investor? My third and final question, is where can I find more training on bird-dogging or is it something learned through a mentor. I want to build a good base of knowledge, skills and experience as bird dog and then a wholesaler before a I do my first deal. Any suggestions ??
Bird dogging is fine as long as you do it properly. You can assign your contract should you find a property to your prospective buyer. Getting your RE license will only make life easier and potentially offer you more opportunities to make money.
You should go to your local REIA and see whats going there.
I had one bird-dog who was moving to a state where bird dogging was supposedly illegal and he asked me what to do and I said do what I've been telling you to do for the last 2 years, start wholesaling, I showed you everything to do, just start doing it. He said he just wanted to bird-dog. So I said what was the first thing I taught you about controlling a property if it is all you can do. And he answered correctly, get an option for a buck at any price within reason. He did that and was able to assign the control to investors who could then jump in and start dealing. Or they could jump in and deal and pay a fee to release the option in escrow, and it finally lead him into actual wholesaling.
Thanks guys for the advice! I will check out my local REIA club. I will also look into wholesaling.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing