How To Become A Real Estate Bird Dog

Posted on February 11, 2008
Filed Under Las Vegas Investments |

How To Become A Real Estate Bird Dog

There are dozens on dozens of ways to attain money with Real Estate. Among the most leisurely ways to make income with real property is becoming a Real Estate Bird Dog.

What does al Estate Bird Dog do? A real estate bird dog locates investments or investment leads for investors.

Why would realty Investors seek out a service like this?

A lot of Real Estate Investors are businesspeople who are active creating income. They do not have time to track down great real estate deals in major real estate markets like Las Vegas. These are where a real estate bird dog comes into play.

What makes a real estate bird dog?

Easy. It takes the bird dog knowing the in’s and out’s of their real estate market. The better real property bird dogs have a dozens of touches within their various real estate marketplace. They also recognize a fine real estate investiture when they see it. Real estate bird dogs look for human relationship with realtors, brokers, bankers, loaners and anybody else who may deliver knowledge of a beneficial real estate investment.

In most marketplaces, the real estate bird dog will be an individual who already works in the industry, for instance a real estate broker or perhaps an assitent to a realtor. Even so, I know Bird Dogs who do nothing other discover real estate investment bargains for investors.

How does a real estate bird dog get compensated?

Commonly when a real estate bird dog discovers various investments or investing leads, they then deliver them to the investor. When/if they purchase the investment, the real estate bird dog is compensated a service charge which is generally a percent of the dealings or it could be a flat fee, it depends on the bird dog.

The advantages of being a real estate bird dog is that once you hand the property off to the investor, you job is done. You don’t have to worry about setting up financing, inspections or any other of the headaches that can come with investing in real estate.

How much can a real estate bird dog make?

Obviously it depends on what percentage of the deal you decide your time and effort is worth, but some command as high as a 10% finders fee. I’ve heard of higher fees, but most that I’m aware of run in the 3 to 6% range.

What are the pits of being a real estate bird dog?

Well, for one, in some states, if you find real estate for an investor and then charge a fee, they feel you need a real estate license. Check with the State you live in before going into this.

Personally, I believe that’s B.S. but some states of matter will do anything to clear more license fees. Even if you have to sit through a few hours of boring real estate classes, for many it’s worth it for the advantages of becoming a real estate bird dog.

How To Become A Real Estate Bird Dog