|
Bird-Dogging - Getting a Start in Real Estate Investing
Are you anxious to get a piece of
the wealth that is to be found in real estate investing?
Until now, if you didn't have experience or cash it
would be very unlikely that you'd be successful since
real estate investing carries enormous risks and high
startup costs. New investors with a lack of knowledge
have lost all of their savings from a bad investment.
How can you prepare yourself to take
on this lucrative market, especially with no cash?
The buzzword among investors for those
making a start in this field is "bird-dogging".
Don't forget it.
WHAT IS 'BIRD-DOGGING'?
Bird-dogging is a system which allows
those who are interested in real estate investing to
gain experience AND income with no risk.
Bird-dogging combines the enthusiasm
of the new investor with the money and experience of
successful investors. Bird-dogs search out properties
that are abandoned, lacking attention or are in disrepair
and attempt to contact the owners about their interest
in selling. The idea is to find home owners who are
anxious to sell. This may also include owners with foreclosures,
divorces or a death in the family.
Bird-dogs then show the property to
the investor. If the investor is interested or closes
the deal they pay a 'finder's' or 'referral' fee to
the bird-dog for the service of locating the property.
HOW DO YOU BECOME A BIRD-DOG?
Your first step would be to find a company
who advertises on signs or in the newspaper that they
buy houses, or take over payments.
Tell them what you'd like to do and
ask them which areas they'd prefer you to look at. Drive
around the area and look for 'For Sale by Owner' signs,
rental homes and boarded up homes.
You will develop a sense of what individual
investors are looking for over time. This is the learning
phase. You will pick up what experienced investors consider
'good' or 'bad' deals based on working with them. Expect
your finds to be turned down at first as you learn.
HOW MUCH DO BIRD-DOGS MAKE?
Fees paid vary from $500 to $5000 depending
on the investor or the cost of the deal. Some businesses
will also pay you a standard fee if you bring new investors
into the business.
You can make living as a bird-dog or
save your new found wealth to invest yourself when you've
mastered the art of spotting the perfect deal!
1howto.com
--------------------------------------------------
Please
Share Your Tips with Us
|
