New Bird-Dog Strategy For Locating Properties

I have found a new strategy to pursue as a bird-dog (property locator) to locate pre-foreclosure properties and actually get paid to do it.

I just thought I would share this information and see how others think about the strategy.

I have signed up with different Mortgage field service compnaies as a property inspector. Most of the jobs consist of taking a photo and interview the mortgager. The inspection pays usually about 25.00 and I also get the unique opportunity to locate properties, take pictures of the property,(i get paid for the pics too) and allows me to talk to the person, find out thier needs plus evaluate the conditon of the property. This allows me to do my due diligence and run the numbers to pass on to my prospective investors. If anybody has any suggestions or if any investors want to learn more about my service just let me know.

Comments(5)

  • bargain7620th October, 2006

    Great idea, as long as you skirt any conflict of interest issues.

    What city are you in?
    [addsig]

  • jamangus21st October, 2006

    Hi guys. To answer your question, mortgage field service companies are companies that are contracted by mortgage companies to track the condition of properties when they are close to being foreclosed upon. Along with inspections, these companies contract out work such as winterization property preservation. I get approximately 6-10 jobs a day. this adds up quick to a vast number of potential investment properties. I hope this helps.

  • jamangus14th November, 2006

    well, To answer your questions, No I do not knock on the doors even though on occasions I am asked to make contact with the occupant for and interview but rarely. But when that is the case, that is even better you can get a quick snapshot of the condition of the interior when asked to come inside. The other plus when doing these inspections, you get the mortgage holder information and the banks name that you can accurately keep track of when pursuing the properties once foreclosed on. Let me know what you guys think. Plus, I have been swamped with work from these companies. I usually get about three to four jobs a day. That is a lot properties in a weeks time!

  • NguyenandCo7th January, 2007

    Now, are you looking after the homes for the MORTGAGE BROKER or the Lender?

    This seems like a good idea...

  • Investor31110th January, 2007

    I am interested in learning more as well, but I still don’t understand how you get in touch with these companies. So your hired as a home inspector ?
    And, wouldn’t these companies already give you the “mortgage holder information” when pursuing the properties? I’m a bit confused. =

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