Becoming a property locator (a lot more generally identified as a bird dog) is an exceptional strategy to make a little bit of added money and also get beneficial experience in actual estate and actual estate investing without any risk or (important) expenses. As a bird dog you may locate properties for a household buyer, who will in turn provide you with a finders fee for each property lead you send them that they end up purchasing.
As a bird dog your only responsibility inside the chain that it takes to create a actual estate deal possible, is going to be locating possible properties for investors to purchase. The investor you are seeking for properties for will most likely train you on how to find properties with motivated sellers. Your investor-buyer will undoubtedly tell you what sort of properties they like to buy.
All investors get specific types of properties; some buy duplexes or triplexes only, some purchase single household houses with 3 bedrooms only, and some obtain apartments. If your investor-buyer doesn't tell you what sort of properties to appear for make sure you ask for particulars about what they like to purchase. It can be a waste of time for you to be looking for apartments when the investor-buyer only desires duplexes.
To be a great bird dog you'll want to be excellent on the phone, since as a bird dog you'll be trying to convince homeowners over the phone why they ought to sell to you (really your investor-buyer.) As a bird dog your investor really should pay you $500 to $1,000 for every lead you refer to them that they acquire. It's not impossible to refer three or 4 properties a month to a fantastic investor-buyer, so should you be very good on the telephone and like to speak to and assist folks then getting a bird dog could be a lucrative career or even side job.
Your investor buyer ought to train you on everything you need to know about tips on how to locate properties, talk to sellers, and close the deal so they are able to come by means of and invest in the property and get you paid! The best strategy to locate properties for sale is to let your household and friends know that you are within the business of acquiring houses. Get some expert enterprise cards produced and hand them out. You'll be able to also drive via neighborhoods seeking for houses that seem to be abandoned and copy their addresses down. Use the address to attempt and find the owner and their telephone number.
If the property is abandoned the owner may well be willing to sell it for an wonderful discount. One more gold mine for properties to purchase at discounted rates are landlords that have owned a second property they rent out. Use a list-compiling service to come across landlords within your nearby neighborhood after which use a direct mail service to send them a post card with your telephone number and e-mail. It would be an excellent thought to pay $50 a month to set up your self with a toll-free number as a second line on your telephone so homeowners can call you for free and you can have a second line having a different ring tone you'll be able to answer with a skilled greeting.
If you're interested in getting involved with real estate investing being a bird dog is an excellent strategy to get involved with no risk and small cost. You can get to know how a genuine estate investment deal is accomplished and make contacts inside the business.
