are people actually still makin money off of bird doggin or was that a phase before in the real estate business? Just wanna know if it'll be profitable start up or should I jus take on the wholesale business in today's real estate
@Jovante Foreman birddogging is done but may be illegal in some states.
how can I check if it's illegal in my area
Birddogging and wholesaling are a little bit different.
Wholesaling is where you get a property under contract, and then sell it to someone else (SUPER BASIC version)
Birddogging is where you have an agreement with an investor (contract) that you will seek out and vet deals for him, and if he buys a property you present to him, you get a fee.
Wholesalers generally make more money on their deals because they are the conduit between the buyer and the seller.
Birddoggers will make a fee ($500-$1000 for example) and will generally not be awarded a share of the proceeds from the deal.
Birddogging (from a real estate perspective) isn't illegal, but if you do a bad job you could end up frustrating the seller and your client.
Remember that as a Birddogger, you are NOT an agent of the buyer or seller. You are most akin to an independent contractor working for a buyer.
Jeremy, I did not know birdogging is illegal. How do you know this?
Jovante, birdogging and wholesaling are both still and will always be a viable but very difficult ways to get into real estate. I say this not because I do them. I say this because I buy from birdoggers and wholesalers. I do not know if you are already doing this, but talk to LOTS AND LOTS or people on what they are doing in real estate. Don't corner yourself into being a birdogger or wholesaler. There are a lot of ways to make money (and lose money) in real estate. Networking is how you will do well and not because you do only one type of real estate. You don't work in or want to work in a fish bowl. It takes a team. Good luck.
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
Join the Largest Real Estate Investing Community
Basic membership is free, forever.