Smarter To Wholesale To Investors As Opposed To Birddogging?
I thought birddogging would be a good way to get the basics and make cash on the side, but then I could potentially passing up great deals for a mere percentage (if paid at all) to other investors. Finally, I thought why don't I find good deals and sell strictly (in the beginning) to other investors. I can get up, close and personal experience, make good returns, and pass on good deals to other investors.
Are there in pros or cons in pursuing this route as a beginner. Any courses slanted towards wholesaling to investors rather than consumers?
[ Edited by sbc on Date 08/02/2003 ]
sound like you answered most of your own questions i think all deals are different and must be used with different approaches.
sbc,
There is a lot of information out there on both. The main thing is, if you find a wholesale deal, DO THE DEAL. If you are confused, post the scenario and you will get help. No one said that because you are Bird Dogging, that you have to pass up a Wholesale, or Lease Option if you find one!!
Happy Investing,
Jesse
The main advantage to birddogging is that there is no risk involved, if performed correctly. You are simply a deal finder. The investor and seller have to negotiate and sign the deal. It's possible that an investor may try to 'stiff' you on the fee (this is a rarity), but it's in the investor's best interest to pay you.
By contracting the deal yourself, you are putting more at risk. How do you intend to close the deal? How do you intend to 'sell' the property to other investors? Is there enough profit for 2 investors? If you can't wholesale the property, do you have another exit strategy(such as rehab/retail, L/O, etc)? Can you afford to actually buy the property?
These are just some of the possibles that you have to be aware of when becoming the buyer.
Roger
Quote: No one said that because you are Bird Dogging, that you have to pass up a Wholesale, or Lease Option if you find one!!!
Hey, you are right about that! Best of both worlds method.
rajwarrior : You brought up a lot of questions that need concrete answers before preceeding. Birddogging first and and down the line selectively holding deals for myself will be safe and a profitable education method.
Thanks everyone, delimma number 1,396,888 is solved. I LOVE this board
-sbc
[ Edited by sbc on Date 08/02/2003 ]
When I started, I never birddogged. I negotiated each deal as if I was going to close them,(most I did), and the rest i flipped to other investors for a fee. I only did this after many hours of reading, practice, and sleeping this business. My buyers came from an ad I ran on one house, kept my buyers list, and used it to sell the ones I did not keep.
Prosperous investing,
td
Ultimately how successful you are as a birddog will be determined by how active you can make yourself in the community. The best ones that I use are ones that seem to hungry civic minded individuals. If thats you, there is really endless potential for income. Find the right realtor, make the right deal, and go for it!
Quote:
On 2003-08-05 12:27, td wrote:
When I started, I never birddogged. I negotiated each deal as if I was going to close them,(most I did), and the rest i flipped to other investors for a fee. I only did this after many hours of reading, practice, and sleeping this business. My buyers came from an ad I ran on one house, kept my buyers list, and used it to sell the ones I did not keep.
Prosperous investing,
td
Thanks for the insight! Extremely valuable information you've provided. Right now my goal is to educate myself to the extreme so I can be ready when I transition from a seeker to an investor.
When I find a good deal and can't do it myself, is it better to keep negotiating and write a contract or to work to contact investors to pass on to them? Worried about being stuck with my name on a contract if no one else picks it up . . .
Thanks for any advice!
Shelly