Search “real estate investing” on YouTube.
You’ll find plenty on how to be a wholesaler, how to raise private capital, how to invest in multifamily properties, how to create a killer short-term rental and far more.
Many of these videos leave out important bits that force you to purchase a video course or participate in an expensive mastermind or live event.
What you won’t find is much on what it means to be a bird dog, which happens to be a path that most of us real estate investors take when entering the field.
There are reasons for this.
First, it’s a great way to learn while you earn.
Second, it pays enough per closed transaction that it makes it worth your time and effort to pursue. In short, it’s a great side hustle. And it can turn into a full-time gig.
What you put in you will get out. It’s up to you to set your goals. But first you have to understand what it means to be a bird dog. Last week I published an article about the questions you should ask, but I didn’t tell you why being a bird dog is such a good idea for newbies in real estate investing.
Why be a bird dog?
The better question is why not?!
- It’s a lot of fun. You could get addicted!
- It opens lots of new doors in investing. When you work with a seasoned real estate investor, you can learn how to do different types of transactions in real estate.
- You get paid as you learn! Think about this one long and hard. Remember when our society embraced the idea of apprenticeships? When you’re a bird dog, it’s kind of like that. Again, when you work with a seasoned investor, there’s no down side. The investor will want you to do your best in finding sellers and properties, right? So he/she will likely answer all your questions! As your understanding of your role grows, and as your understanding of the investor’s role also grows, you will ask more and more in-depth questions.
- You can do it even if you have a 9-to-5 job. That’s right! No one’s asking you to quit your day job. In fact, you’d be silly to quit a steady gig to be a bird dog until you’ve learned this new skill really well. Once you do and once you have started earning between $500 and $1000 (sometimes more) per transaction that closes, that’s when you can decide to take bird dogging to the next level. Some people do it part-time and others are able to do it full-time. But here’s the deal. You don’t have to put in huge amounts of time to earn good money as a bird dog!
Learn to be a bird dog. Download my FREE eBook. Click this link now!
How do you get started?
That part takes a few phone calls.
You’re going to call as many real estate investors you can find.
Call wholesalers, fix-n-flippers, buy-n-holders and investors who buy single-family properties as well as multifamily properties. The more you learn about being a good bird dog, the more people you will be able to work with.
Reach out to those in the real estate investing community in your neck of the woods. You can find them in groups online, in Meetup groups and at local real estate investing events.
You just have to get good at sharing your goals, abilities and willingness to learn to lots of people who share your interest in real estate and real estate investing. You might even be able to work with agents. However, they tend to have a different mindset than investors, nut you will learn that over time.
For now, click on the link below to download my FREE eBook that gives you the scoop on what I need in my bird dogs a.k.a property scouts.
Until Next time..
Michael Del Prete