Wholesaling?

Question

Is wholesaling and bird dogging the same thing? I see the terms thrown around all the time and read the bird dog FAQ thread, which from the sounds of it sound like the same exact thing.  Thanks

Terrell Brown · Answer

An alert came across my screen about wholesaling, I can answer the second part of your question. Below is the link that has all the contacts you need and well written too. I'm here to help as much as I can and get the same also.

https://www.thewholesalerstoolbox.com/

Yahiada A Rosado · Answer

@Anthony Sulecki Hey there I came across your reply on this thread and I wanted to ask a few q's regarding this wholesaling topic. Is it better to get a buyers list going first? Also, where can I obtain the contracts I need?(purchase and sale/assignment) thanks in advance I appreciate your time.

Account Closed · Answer

Roc,

Head to the library or read for free at the bookstore. When you have enough money buy the books you like. They are much less expensive than courses from most sources.

There is a lot of info here and on the web in general. A book is normally better organized as there was 1 author and an editor. Hence the info on the web is more timely but the books have a better layout to get the full picture. Use both.

Bronchick has a book on flips and wholesaling. As a practicing RE attorney he does focus on things that are legal.

Conti and some others have great books. Conti has one that focuses on the work you need to do to find a deal (100 calls a week, etc).

John Corey

Anthony Sulecki · Answer

My first wholesale deal was done with flyers on doors, because my 2 week ads I ran, didn't bring in a call worth pursuing. Print yourself out some flyers on Word etc., and start driving around.  (dont put them in mailboxes though)

If you need word, I can send you office 2007 enterprise edition, which has microsoft publisher. (lots of templates for flyers, business cards, brochures, mailers, etc.) You have gas costs, and paper and ink costs. It doesnt get much cheaper than that, especially if you already have contracts.

Ryan Webber · Answer

I've seen people get started in wholesaling without any money.  If you don't have capital for marketing, though, you will have to rely on your ambition and hustle.

If you have no money to invest then there is a bigger issue looming that you will have to deal with in order to succeed, money management.  I can think of one investor in particular who didn't have probably $100 to his name.  He was very aggressive and found 3 or 4 wholesale deals in his first month or so.  He flipped them, spent the money, and was no better off then before he started.  His ambition wained, and he still had no capital to work with.

Roc P. · Answer

Thanks John for clarifying that. I've been reading online and it seems that you can start to wholesale without a lot of cash, is there any merit to this? Thanks

Account Closed · Answer

Definitely not.

Bird dogging is mostly about a person finding what are likely to be warm leads. The person generally lacks the experience to do much more.

If they get paid for the lead (like selling information or selling a mailing list) then the deal is legal. If the bird dog expect to be paid if and when a deal is done then the fee is generally illegal. It could be illegal for the person to pay or for the person to receive the fee. Being paid for a successful deal is brokerage and you need a license.

Bird dogs make minimal money for minimum risk.

People who wholesale are people who get deals under contract. They gain control and then sell that control. They have a stake in the deal. They are a principal. When they sell their position they are being paid for their position. How and when they get paid is up to the parties to the transaction. Some might be paid up front and independent of if a deal ever closes. Many times some or all of the cash is paid when the deal for the house closes.

John Corey

Wholesaling?

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