Subject to/ Bird dogging???????
I'm very new to all of this could someone explain the terms Subject to and bird dog.
I'm very new to all of this could someone explain the terms Subject to and bird dog.
Welcome to TCI.
Bird Dog: Someone who finds properties for an investor and is paid a commission for doing so.
Subject To: Better said, "Subject to assuming the payments on the existing mortgage" In the purchase contract you would include this clause. Rather than getting a new loan on the property, you would take over their payments.
Hi Laydwn,
Bird-dogging is a great way to learn the ropes, especially if you plan to become an Investor. You find motivated seller leads for pro Investors, and they will pay you a referral fee if they are able to close. More importantly you can learn a great deal from the real life transactions you will be exposed to. When you provide good usable information that saves Investors time and money, then they won't mind taking time to help you learn the business. The key is providing useful, qualified leads. It's win-win. Good luck.
[addsig]
To learn a little more about what investors look for as far as finding a bird dog, please refer to the following topic:
" I need a good ad to attract bird-doggers". It has some good discussion on what it is all about ...
Just wanted to post a correction to hibby's reply.
Birddogs are paid a "finder's fee" Real estate agents are paid "commission"
Careful with the terminology there, hibby
Roger