Bird Dogging – Getting A Start In Foreclosure Investing
Getting started in real estate investment can be challenging. If you do not have cash or experience, chances of success are next to none. It is possible for new real estate investors to lose their entire life savings on one bad investment due to lack of experience So you ask the question: How do I get started in real estate investing without experience or start-up capital?
The answer: bird dogging.
WHAT IS A BIRD DOGGING?
Bird dogging is a technique allowing new real estate investors to dive in and get their feet wet — without risking any of their own money. Any you can make money without ever risking your own money!
What a bird dog does is find properties whose owners are eager to sell. These properties may be abandoned or rundown. They may also be properties in foreclosure (like San Diego Preforeclosures) , or properties whose owners want to sell quickly for any reason, such as divorce, death, pending foreclosure, or having to relocate quickly.
Once a bird dog has found an attractive property, they bring it to an investor. When the investor closes the purchase, they pay you the bird dog for finding them the property.
HOW TO BECOME A BIRD DOG
First off, find an investor who buys problem houses. Usually you will see flyers around town advertising “WE BUY PROBLEM HOUSES” or “SELL YOUR HOME FAST”.
Contact the investor and ask them where in your town they are looking to buy and if you can locate properties for them. Drive the neighborhoods in these areas and look for ‘For Sale by Owner’ signs, rentals, or abandoned properties (boarded up windows, unkempt lawn, etc.) Search for foreclosure properties (like San Diego Foreclosure) through a Realtor (San Diego MLS).
You will eventually get a feel for what types of properties individual investors look for. With experience, you will discover what deals are good and what are not. The best thing about bird dogging is that it costs you nothing but time, but you still get the experience.
HOW MUCH WILL WILL I MAKE?
Depending on the investor and the profit in the deal, a bird dog can make between $500 and $5000. This is mostly dependent on the profit the investor stands to make.
Like previously mentioned, there is no cost to start bird dogging. It is quite possible to even make a decent living as a bird dog. But the best benefit to being a bird dog is the experience gained to spot a good deal and invest in it yourself when the time is right.
