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5 Key Reasons to Become a Bird Dog

Aug 4, 2008
Just as a bird dog sniffs out game for the hunter, so a real estate bird dog sniffs out deals for the real estate investor. If you've been looking at real estate investing and have wanted to learn more, but you don't have the capital or the know-how, becoming a bird dog could be the best place to begin.

What Does a Bird Dog Do?

Real estate investors are busy people. They can't be everywhere. Many of them are looking to hire willing bird dogs to search for properties that are abandoned, lacking attention or are in disrepair.

Depending upon the agreement with the investor, a bird dog may just gather information such as the address and condition, take a few photos, and turn this information over to the investor. (These bargain properties may be neglected due to absentee owners, divorce, death, pending foreclosure, or a dozen other reasons.)

In other instances, the investor may want the bird dog to take the next step and locate the owners to see if they are anxious to sell. At some point, the bird dog may want to venture a step further and learn how to estimate repairs. This information alone is invaluable to the investor.

If the investor closes this deal, he or she is willing to pay a finders fee for this service. That fee could range anywhere from $500 to $5000 depending on the size of the deal.

Below are five good reasons for becoming a real estate bird dog:

1. No Investment; No Risk

If you choose to start in the real estate investing business by being a bird dog, you will put out no investment other than your time and the gas that it takes to drive the neighborhoods. Since you are not actually making the purchase or drawing up the contract, you have absolutely no risk.

2. No Need for Stellar Credit

If your credit score is borderline or worse, that is no problem in this business. In your job of seeking out bargain properties for investors, your credit score means absolutely nothing.

3. Spare Time Work

This is work that can be done in your spare time. If you have a full-time job, that's no problem. You can use evenings and weekends to search for deals. In fact, it's the perfect part-time job because you control your own hours.

4. Learning the Ropes

As you begin working with real estate investors who know what they're doing, an informal mentoring of sorts begins to take place. When your "finds" are turned down, you will learn why and thus you will learn more about the business. Soon you will be sizing up deals like a pro. You will come to understand location, timing, and the market. What a great way to learn a business.

5. Earning Money

Be prepared in the beginning to have a lot of your properties turned down. Don't get discouraged. You are on a learning curve. Soon you will begin to catch on and will be able to sniff out exactly what the investors are wanting. As you do, they will grab up those deals, flip them and pay you your fees. And the earnings will begin to stack up.

Conclusion

Many successful real estate investors got their start by driving the neighborhoods sniffing out the deals as a bird dog. It's the perfect stepping stone to starting your own real estate wholesaling business. Perhaps it will work for you as well.
About the Author
Iman Yusef-Yahya finds some of the very best
below market deals in the country.
Find out how you can
get instant access
to these below market deals now at http://www.ImanAnd
JoesWholesaleProperties.com
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