Being a property locator (additional commonly known as a bird dog) is an superb approach to make a bit bit of additional cash and too get valuable knowledge in genuine estate and genuine estate investing without having any risk or (major) costs. As a bird dog you may find properties for a household buyer, who will in turn give you a finders fee for every property lead you send them that they end up obtaining.
As a bird dog your only responsibility within the chain that it takes to create a genuine estate deal probable, will likely be locating potential properties for investors to buy. The investor you might be looking for properties for will most most likely train you on tips on how to find properties with motivated sellers. Your investor-buyer will undoubtedly let you know what kind of properties they like to buy.
All investors get specific kinds of properties; some buy duplexes or triplexes only, some get single loved ones houses with three bedrooms only, and some buy apartments. If your investor-buyer doesn't let you know what sort of properties to appear for make sure you ask for details about what they like to purchase. It is a waste of time for you to be seeking for apartments when the investor-buyer only wants duplexes.
To be an excellent bird dog you need to be excellent on the phone, since as a bird dog you will be attempting to convince homeowners over the telephone why they ought to sell to you (truly your investor-buyer.) As a bird dog your investor must pay you $500 to $1,000 for just about every lead you refer to them that they get. It's not impossible to refer three or 4 properties a month to a good investor-buyer, so if you are superior on the telephone and like to talk to and help individuals then getting a bird dog is usually a lucrative career or even side job.
Your investor buyer should train you on every thing you must know about the way to find properties, talk to sellers, and close the deal so they can come by means of and invest in the property and get you paid! The best way to find properties for sale is to let your loved ones and pals know which you are inside the organization of acquiring houses. Get some skilled small business cards created and hand them out. You may also drive through neighborhoods searching for houses that seem to be abandoned and copy their addresses down. Use the address to attempt and locate the owner and their phone number.
If the property is abandoned the owner may well be willing to sell it for an incredible discount. Yet another gold mine for properties to buy at discounted rates are landlords that have owned a second property they rent out. Use a list-compiling service to discover landlords in your nearby neighborhood after which use a direct mail service to send them a post card along with your phone number and email. It could be a great thought to pay $50 a month to set up yourself with a toll-free number as a second line on your telephone so homeowners can call you at no cost and you may have a second line having a various ring tone you are able to answer having a skilled greeting.
For anyone who is considering obtaining involved with actual estate investing becoming a bird dog is an great approach to get involved with no risk and small expense. You'll be able to get to know how a real estate investment deal is carried out and make contacts within the business.