Leads, Bird Dog/Jobber

[William MacBride]

Hi,
As I look over the options for getting started in real estate I find that what looks the most feasible right now is being whats called a bird dogger or jobber. I have virtually no money to even invest to begin with.
I need to clear up some basic confusion as to how "leads," potential properties attractive to investors, are generated. First off, why is there such a need for bird dogs or jobbers (I read theyre virtually the same thing) if people can just browse websites? Its relatively easy I'd imagine to for an FSBO seller to post their property on a website. And real estate agents have even more latitude with the multiple listing service (MLS).
So does a bird dogger or jobber browse websites and get a 3000 dollar fee for finding something a rehabber or other investor could have found just as easily by doing some sort of real estate site web search in their area? It just doesn't make too much sense.
If somebody could outline what a bird dogger actually does, what function they serve, and how best for a newbie in it to get started I'd appreciate it.

Thanks,
Will

[Jenny F.]

I do "bird dogging" and I have many investors. My fees range from $2500.00 to $5000.00 dependent upon the deal (if i find a 1 mil beach property for 200k, I get the $5k).

My investors are looking for specific properties and they do not have the data nor the means to obtain the data themselves. I do on occasion find properties on the MLS and direct clients accordingly. I still charge a fee to my clients when I find the properties on the MLS.

For me, bird dogging isnt just about finding a property for .30-.40 on the dollar. There are too many variables in my area that have to be factored into the purchase. I also analyze the properties and weed out the junk. If the property isn't going to net my client long or short term returns, I don't push the lead their way. I only work with ONE county market that I know very well.

So to answer your questions:
KNOW your area like NO one else
KNOW what your client's specific goals are
ANALYZE your properties so that clients will call you again (because they are making money)
WEED out the junk

When I present the property to the investor I submit it with a lot of information such as ROI, expected taxes, long/short term purchase/ construction costs, uses (weekly, monthly rentals/flip) (what i can see from my outside view of the property), etc...

It doesn't take a lot of money to do these things, it does take a lot of time and dedication.