Time is money in the real estate investment business. As an investor, you only have so much of it to go around. So, one way to save time and effort is to delegate your scout work. Real estate bird dogs can take on that legwork, bringing you information on properties that may be good deals.
Having them handle this for you frees you up to do other things like build your network and work out more deals. The key is to have bird dogs who source consistent and productive leads. And you need not look further for them than right here. The RealEstateBees.com directory gives you easy access to a list of the top-rated bird dogs near you.
Frequently Asked Questions
What is a real estate bird dog and what do they do?
The most commonly used definition for this term is someone who locates potentially lucrative investment opportunities for real estate investors. In short, a real estate bird dog is a property scout.
The meaning behind this nickname comes from hunting practice, where trained canines rustle up game birds, point to the quarry, and retrieve them once downed.
Likewise, real estate bird dogging involves finding good investment leads and pointing them out.
To be effective property locators, bird dogs must know their local real estate market. They must consistently find investment opportunities that match their clients’ needs.
A bird dog’s work involves responsibilities such as:
- Sourcing leads through activities like driving through neighborhoods and qualifying them
- Researching public databases to find distressed properties
- Staying updated on information that can impact the market and seller motivation, such as falling property values and local job cuts
- Crunching basic numbers to evaluate a deal’s potential profitability
The deliverable is property information relayed to investors who may be rehabbers, wholesalers, or landlords.
Some bird dogs concentrate on certain kinds of properties.
So, when engaging someone for the role, ask if the person is a multifamily real estate bird dog, a wholesale real estate bird dog, or one who specializes in other types of properties.