Bird dogging for fast cash?

Question

Hello all,

I recently decided I want to learn as much as I can about REI and would like to start from the ground up to learn the ins and outs on REI.  I figure the best place to start is bird dogging since there is no risk involved (besides maybe not getting paid). I'm in the Air Force as I stated before so I have a pretty time consuming job, I figure bird dogging and studying up on Real Estate would be my best bet.

Question is how would I even start bird dogging? I know I need to understand what a good deal is. I know I need to find a wholesaler. What I don't know is how to get started.

Thanks in advance everyone!

Brandon Proctor · Answer

@James I looked up REI clubs for my area and there isn't one in Cheyenne Wy sadly. I have noticed every since I have been doing my research and reading all the topics on here I always look for FSBO homes and vacant homes.

Should I call the "we buy homes" numbers and ask what they are looking for in homes they are willing to buy? I figure they are probably wholesalers.

Marc Ramsay · Answer

Brandon Proctor, James Vermillion is right. Bird-dogging isn't as easy as it sounds. I've been looking at and investing in RE for about 2 years now and I am just starting to get established at finding great properties that other people want to invest in. I spend 1 to 2 weeks per month actively looking at buldings and scouting out deals in my markets. It helps a lot that I have found a great broker who I have been able to work with to find some great off-market deals.

That said, it is a lot of fun huting down the great deals. Networking is really imprtant, and the REI clubs are a great place to start.

Have fun, and good luck.

Marc

James Vermillion · Answer

Brandon Proctor, from a recently separated Air Force veteran (Maintenance Officer) welcome to BP.  A lot of people get into wholesaling and bird-dogging thinking it is an easy way to get started in real estate.  I am sure you know this, but it is not easy at all.  You basically need to know all of the things investors know (how to analyze deals, how to estimate repair costs, how to determine ARV, etc) and you need to be able to beat the competition to the punch.

If you haven't already make sure you fully understand the process, because the other thing you have to lose is your reputation, and that can cost you a lot of money down the road.

Anyways, welcome to BP, stay active and ask questions.  Good luck!

Michael Burns · Answer

Finding Buyers & Wholesalers: go to your local REI club and network with people. Tell them you are a bird dogger, people will be begging you to call them with any deals you come across. Also work craigslist or your local online classifieds website.

Finding Deals is the hard part. Keep your eyes open while you are out and about, always be tuned into looking for deals. For Sale by Owner signs, look for vacant properties, estate sales, moving sales, notice of default lists... that should be enough to get you started. Your goal is to find motivated sellers.