Can someone clarify

Question

Since I've joined this site I've learned a lot already and have a list of a couple books I'm getting of amazon to start reading... I did have a couple questions.... more so.... the "flow" of property if you will...

Through reading I feel like "bird dogging" and wholesaling are very similar if not the same?

Trying to understand.. unless you cut out the middle man and do everything yourself... it's probably best to stay with an area that you become specialized in and let others do what they're best... not sure if that makes sense but what I'm asking is..

a bird dog goes out and finds highly motivated sellers willing to sell cheap to cash offers.... The bird dog then writes a contract to buy the property but finds potential buyers to "assign" that contract to? would the bird dog sell the contract to a wholesaler? or is a wholesaler the same as a bird dog?

Who would a rehabber buy from? a bird dog or wholesaler? or either or are they the same?

Do rehabbers usually sell the property after or hold on to them to rent out for passive income? or both...

Do rehabbers usually work with their own money once they have a few deals under their belts and have the cash or do they usually find investors to borrow money from?

Just a couple questions I've come up with after reading through this site...

thanks! mike

Brian Haskins · Answer

Bird dogs are completely different than a wholesaler. A bird dog just finds the lead and then hands it off. The wholesaler finds the buyer and does the assignment. If your doing all that as a bird dog then you might as well be a wholesaler and make the money not just a small fee. As a bird dog all you do is find leads and pass them off to get a small fee. Rehabbers and landlords will buy from wholesalers not bird dogs because bird dogs only have leads not deals in most cases. most rehabbers sell to get their money out and most don't use their own money.

Brian Haskins

Will Barnard · Answer

Many contacts can be made at RE events, that is a great option for all.

Jesse Ramirez · Answer

Whatever it takes.

Michael C. · Answer

Ok...well that makes more sense then.

How do rehabbers or buyers establish relationships with wholesalers?

The biggest suggestion I've seen on this site is to join your local REIA. Is that usually the best way?

James Harkness · Answer

A lot of your questions don't have an exact answer, as there is not "usual" scenario. Every investor has their own exit strategy. That may be buy and hold, it may be fix and flip.

As far as bird dogging vs. wholesaling goes, as a wholesaler, you get the property under contract and you assign the contract to a buyer for the price of your purchase price plus your fee for assignment. A bird dog simply provides leads to investors. They do not typically get a home under contract. They may see a for sale by owner sign and refer it to an investor that they work with. If the investor closes on that property, the bird dog gets 500 bucks or some pre-determined amount for the referral.

Can someone clarify

5 Replies