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Updated over 13 years ago,

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I want to be a "birddog"... legally

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Hi, I read the sticky post on bird dogging. I am 25, I currently have a job and on the side eventually I would like to get into real estate investing, but I'm the type of person who wants to better understand how things work before getting into it. As I've read on here, it's illegal to get paid at close without being a broker or agent or something. So here is what I am looking to do.

I want to provide information and be able to learn by reinforcement of knowing which property the person closes on and why as a way to "get my feet wet", but be paid based on the number of properties presented meeting certain standards so as to avoid doing anything illgal as I understand.

I am thinking my task would be somewhere along the lines of
1) Look though all the properties for sale in a particular area online.
2) create a spreadsheet that lists various details such as: "adress of house, city, mortgage payment, estimated value of house, actual listing price, rental estimate, number of square feet, est price per sq ft, and one quick measure of value to narrow down my list would just be a formula that's something like yearly gross income after mortgage payment but before vacancy, insurance, taxes, damage repair and misc operating expenses, etc divded by 10% of the listing price or down payment... and any other information that the investor would like on there that I can reasonably list with ease...

3) sort the spreadsheet by some metric that the investor prefers such as the return before non mortgage expenses mentioned previously or price/sq ft or price to the price estimate.

4) For all properties that meet certain requirements, such as priced below the estimate price (Zillow.com estimate) by a certain amount, and/or yearly ROI based on 10% down on mortgage, mortgage payment and I could then go into more details and put together documentation which would...
a)include # of bed, bath, year built, etc)
b) attach any and all photos if available
c) misc information that could be useful.

I don't know how to do repair estimates, but if there is some resource on how to learn I would be willing.

Would this be something that investors would find useful? What would be a reasonable price for info on 100 properties in the spreadsheet? If it takes 100 properties to visually inspect and find one to close on, and you might say $1000 per close, then maybe of 100 on the spreadsheet, 20 of them are provided that are worth inspecting, so $200, but since there's uncertainty and maybe some information lacking maybe $100? Does that seem right?

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