Getting a property locator (much more generally identified as a bird dog) is an exceptional technique to make just a little bit of added cash and at the same time get valuable experience in actual estate and genuine estate investing without having any risk or (significant) costs. As a bird dog you will find properties for a home buyer, who will in turn provide you with 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 make a actual estate deal possible, is going to be locating prospective properties for investors to buy. The investor you might be seeking for properties for will most most likely train you on the way to locate properties with motivated sellers. Your investor-buyer will undoubtedly let you know what sort of properties they like to buy.
All investors obtain specific types of properties; some purchase duplexes or triplexes only, some obtain single family houses with 3 bedrooms only, and some purchase apartments. If your investor-buyer doesn't let you know what sort of properties to look for make certain you ask for particulars about what they like to buy. It can be a waste of time for you to be looking for apartments when the investor-buyer only desires duplexes.
To be a superb bird dog you have to be excellent on the phone, due to the fact as a bird dog you might be trying to convince homeowners over the telephone why they ought to sell to you (in fact your investor-buyer.) As a bird dog your investor must pay you $500 to $1,000 for each lead you refer to them that they acquire. It's not impossible to refer three or 4 properties a month to an excellent investor-buyer, so for anyone who is superior on the phone and like to speak to and support people then getting a bird dog could be a lucrative career or even side job.
Your investor buyer need to train you on every little thing you have to know about the way to find properties, talk to sellers, and close the deal so they are able to come via and acquire the property and get you paid! The top strategy to find properties for sale is to let your family members and pals know which you are in the small business of getting houses. Get some expert company cards made and hand them out. It is possible to also drive by means of neighborhoods seeking for houses that seem to be abandoned and copy their addresses down. Use the address to try and find the owner and their telephone number.
If the property is abandoned the owner may be willing to sell it for an wonderful discount. An additional gold mine for properties to buy at discounted prices are landlords that have owned a second property they rent out. Use a list-compiling service to come across landlords inside your neighborhood neighborhood and then use a direct mail service to send them a post card along with your telephone number and e-mail. It could be an excellent notion to pay $50 a month to set up oneself having a toll-free number as a second line on your phone so homeowners can call you at no cost and you may have a second line with a distinct ring tone you may answer having a professional greeting.
In case you are thinking about finding involved with real estate investing getting a bird dog is an excellent approach to get involved with no risk and small expense. You can get to know how a actual estate investment deal is completed and make contacts within the industry.
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