Been Out Birddoggin'
So, today I decided to do as I've seen suggested here and start "driving for dollars!" I took a different route home after running some errands and just kept my eyes open for overgrown yards & neglected/vacant-looking homes. In about 15 min I had written down 5 addresses!
When I got home I pulled property profiles on the addresses, using access to a title co's online database that I have. I learned in my prelim research that 3 of the props have owners w/ a different tax-bill mailing address than the site address. Ding - jackpot! (um, I think.) 
Well - I have all this momentum and I'm trying to figure out the next move. I am thinking I'll write a letter to each of them indicating my interest in the property. In a few weeks I'll follow up by phone if I can. My ultimate goal is to have a conversation with the owner if possible, and figure out details like - if they would be willing to deal, loan balances, et al. Then I'd bird-dog the deal (i.e. my research on the home) out to one of the investors I have on my buyer's list and hopefully collect my first BD fee :-D
Pro's, am I on the right track here? I feel like I finally put my thoughts to action this weekend re: my RE investing plan, and I don't want my forward movement to peter out. Help push me along!
Questions:
1. Do I write the intro letter as if I am the buyer even though I am hoping to refer it to an investor?
2. If a letter is a good idea, anyone have an good outline and some effective copy suggestions?
3. Any general input or thoughts?
Many many thanks everybody.
Hi, I am new to the birddogging you could say also, how do you go about getting access to a online database to search out properties? Im looking for different ways of doing this solely online at home because I dont have the time to sit in the courthouse. thanks for any info. you can pass on.
As a general rule a birddog will only pass on all the information they have to another investor and have no contact with the seller. The most profitable way to turn these properties is to wholesale or assign the contract to another investor for a $3,000.00-$10,000.00 price bump. Then arrange a double closing with your closing agent.
Hi MichaelChandler,
I am not sure if that is the case, at least from what I've been learning about birddogging. Most of my investors want to know why the HO is possibly interested in selling. John Locke also teaches in his "Big Bucks Birddogging" manual, that you need to qualify your seller before presenting the details for the property and their motivation, to your investor. Sounds like you have used BD's differently in your experiences.
OTOH, I will say that one of my investors does want to be the first one to actually speak to the seller, "just bring me the numbers & I'll do the rest" type thing. Diff strokes for diff folks
Oh - I forgot to answer rmvtrebor - there is a local Chicago Title rep here in SD who is investor friendly and lets investors have access to their dbase for research. You might see if you can get this from your local Chicago Title or other Title company. [ Edited by elf2588 on Date 04/04/2004 ]