How to Be a Real Estate Bird Dog

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got a quick video on how to become a successful Real Estate Bird Dog.

Find Real Estate Investors to Build Your Buyer List:

* Two Main Types of Investors You Can Bird Dog For – wholesalers, rehabbers
* We Buy Houses Ads – craigslist, newspaper ads, bandit signs (we buy houses)
* Cash Buyer Ads, handyman special ads
* Local REI Clubs – Networking, investor referrals, wholesalers and rehabbers
* Real Estate Agents – investor referrals
* Title Companies, Closing Attorneys – investor referrals

Determine Investor Buyer Criteria: Basic info

* What price range and price to value (discount needed)
* how many bedrooms and baths
* age of properties
* what areas of town
* how much rehab/repair
* any other criteria

How to Find Deals: No need to spend money, because you don't get paid on time spent, just at closing

* Wholesalers – find deals for your rehabbers
* Driving For Dollars – Drive around different areas and look for ‘For Sale by Owner' signs, rental homes and boarded up homes, etc
* Searching Online Ads – Craigslist, Realtor.com, smaller FSBO, FRBO sites
* Local Newspapers, Penny Savers (Thrifty Nickel, Greensheet, etc.)
* Local Real Estate Clubs – networking, referrals
* Realtors – provide them with investor criteria – realtor will easily find deals

Get Bird Dog Fee:

* $500-1000 is the usual real estate finders fee for bird dogging properties
* Usually paid after closing – no certainty, trust, if the investor wants more deals they will pay, if not, not an investor you want to work with.

In conclusion, being a real estate bird dog is a great way to learn the how to invest in real estate. You can even do it part-time. There is almost no risk and low overhead. Its very important to build strong relationships and reputation with your real estate investors so they are encouraged to use your services again. You should definitely be prepared for low paydays, and deals that fall through.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.