I?ve been asked the question by beginning real estate investors, ?If I only birddog, am I really investing in real estate?? Good question.
My answer is, ?Are you making money, are you learning, and are you moving forward toward your goals?? If you can answer yes to those questions, then the right answer to ?Is birdogging really real estate investing?? is ?Who cares??
First, a primer on birdogging. It?s nothing more or less complicated than finding deals for other investors. As a birddog, you will do the legwork required to hunt down property that is in distress. That means it?s either vacant or in need of repairs, or the owner is experiencing some life situation that causes him to need to sell.
When you find a likely property, you will get another investor involved, and when they purchase the property you will receive a birddog fee. This usually amounts to between $500 and $5,000 depending on how much the property sells for and how much legwork you did to bring the deal to the buyer.
Birdogging is a great way to learn the ins and outs of real estate investing. You learn not only how to find distressed property, but also how to value real estate, how to use creative financing techniques, how to talk to sellers, and much more. In short, birdogging is a great way to get an education in real estate investing and earn a good living at the same time.
So, is birdogging really real estate investing? Not technically. It?s actually closer to being a real estate merchandiser. That is, you?re really in the business of locating property, or generating leads for other investors. Based on the amount of money you can earn, the education you?ll receive, and the low risk involved, that?s not really a bad thing.
Speaking of risk, that?s one of the chief advantages of birdogging. After all, since you?re not using any of your own money, there?s nothing to lose except your time. In addition, you really don?t need any cash or credit to get started in real estate investing? a perfect solution for people who are lacking one or the other, or both.
Now that you have a grasp of what birdogging is all about, why not make it a goal to birddog a few deals this month? You?ll have a blast, learn a ton, and make some money. What could be bad about that?
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Tom Dunn is a successful real estate investor and author of the popular DealFiles Real Estate Investor Stories free newsletter. You are welcome to share this report, unedited and in it’s entirety, with anyone you like. This text, and all live text links, must remain intact. ? 2007 by Tom Dunn.