What is the Meaning of a Bird Dog?
A bird dog is a term for investment in real estate, which refers to a form of broker or agent who spends their time trying to locate properties with significant investment potential. A bird dog is searching for motivated sellers or undervalued assets with the goal of moving the deal on to a real estate buyer for a percentage or fee.
The word "bird dog" refers to hunting dogs who point to the position of birds and successfully retrieve any birds that the hunter shoots.
Let Us Understand the Bird Dog Technique in Detail
If you live in a community, you probably have been subjected to some marketing strategies for bird dogs without even knowing that. The signs that say "We Buy Homes" with a mobile number are aimed at bringing in sellers that need to get out of their property but have no connection to the conventional cycle of real estate. Likewise, some bird dogs use auto-dialers and circular mailings that say they can pay cash for your home today.
How Does a Bird Dog Function?
Bird dogs act as a real estate investor intelligence network. Real estate investors will work with a network of bird dogs to extend the area they are searching for real estate deals around. Likewise, a bird dog would also build a network of real estate investors, so they have a better chance to turn a specific lead into a contract.
The term bird dog is more closely associated with the identification of flipping properties, but it can also be used to identify income properties or residential rentals.
Bird dogs are perhaps more abundant and less successful than infomercials late at night. The myth about the bird dog is part of the rapid millionaire aura of money that ebbs and flows around investment in real estate.
You don't have to spend the money in real estate? By looking for great deals for well-capitalized investors and building up your stake through fees to fund your first deal, you can learn the trade. In principle, working as a bird dog is a great opportunity to practice finding distressed assets for a considerable benefit that can be remodelled or touched up.
