Why Bird Dog?
I have read numerous posts on this site from experienced investors saying to just get out there, do your 1st deal, "pull the trigger". Also, I've head the answers to questions like "What if I have NO money, what do I do". There seems to be a concess that if you find a good deal, getting the money is the easy part. I also belive that the hardest part of the process is finding the properties, motivated sellers, pre-foreclosures, etc...
So, if your first step is to find the properties, why would you find them for just a fee and not do the deal yourself?
I keep on asking the same question...but, Some people dont want to do the work involved and have the liability of completeing a deal. Therefore, Bird Dogging is perfect for someone looking ot supplement their income with limited to no risk. The only risk is getting paid...and if they have a contract with the investor, then they are covered for that too!!
KnowdgeJunkie,
Here is a good example for those that say just pull the trigger.
http://www.thecreativeinvestor.com/ViewTopic21359-34-10.html
How would you have advised this person, then depending on their financial situation, would you not take that into consideration also?
John $Cash$ Locke
I like to think I do both.
In searching I find good places, some are better deals than others. Some place require repairs or upgrades, some places are quick flips or will require lots of negotiation in order to get the property either out of probate or out from under the claws of an owner in denial.
Am I good at ALL those things? No.
Are there people who are good at those things that I am not? Yes.
I'll bird dog properties that are good deals, but that I know will be too hard for ME to handle or will take too much time from my other projects.
I still believe Bird Dogging is a great start as you learn the first thing you'll need to know; finding and evaluating deals. It can be scary to take the risks required in closing a deal, BDing can get you some good cash, and possibly lead to finding a mentor who can hel calm your fears of actually making that first deal.
That, is why I think people BD, and why I do it.