Real Estate Bird Dogs
A very important part of a real estate plan is a person known as a bird dog. A bird dog's job is to find property for those wanting to invest in real estate. They never have an attachment to the investment property after it is found and turned over to an investor. The real estate bird dog finds the leads that look good and can be sold at a fair price. A bird dog is paid a referral fee by at he investor to come up with great leads.
Bird dogs usually find homes that are being sold by an owner. They bring it to an investor that pays a certain amount for the bird dog's lead. They look for people who have circumstance that prevent them from keeping up their mortgage payments. Therefore they may be facing foreclosure. It may also be a second mortgage that cannot be paid, a death by the owner of the home, job loss, or other family or career issues. All of these circumstances are variables that a real estate bird dog looks for and hands over to an investor who tries to sell the home. When they do, the bird dog receives a commission.
A bird dog is a good researcher and knows what the best deals are and where to find them and will use a systematic approach to find these deals.
Understanding the process of real estate, and the ways to use different resources can help you to find the best deals and make the best deals. If you aren't sure where to start, using a real estate bird dog is a good way to sniff out what is available to you. This will give you the ability to claim or give away a piece of property on the market.
In summary, the basics of bird-dogging involve having enough spare time and talent to locate real estate property that is offered at a good price by a motivated seller. A good bird dog will collect names of potential sellers and buyers and prepare a presentation to a potential investor. He or she will then collect a finder's fee from the investor for the work done.
ABOUT THE AUTHOR:
Richard sells real estate in the San Gabriel Valley which is about 12 miles South of Los Angeles. For more information, visit his website at http://www.westsangabrielvalleyrealestate.com
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