Bird Dog Or Wholesaler?

Comments(6)

• 
  jeff1200217th October, 2004

  A Wholesaler specializes in ACQUIRING properties, and then selling them to other investors for a profit.
  A Birddog specializes in finding properties for investors and collecting a fee for this service..
  
  Bird-dogs typically collect a fee. $500 to $1000.
  
  Wholesalers can typically make more depending on how well they were able to buy the property, But then they have more exposure in tne transction.

• 
  reinatalie17th October, 2004

  Usually wholesaler will go into contract on a property, birdogs would not.

• 
  jeff1200217th October, 2004

  reinatalie,
  While you are not incorrect on your statement, more and more is seems bird dogs get into trouble for acting as unlicensed agents. The way around this is to become a principal in the transaction. The easiest, or at least a common way to accomplish this will be to go into contract on the property.
  Jeff

• 
  ironworker117th October, 2004

  Thanks so much. I am just starting to look into this more and it seems, from other posts, that this is a good way to get going with limited funds. And, it helps you get connected to a broad network for when you do start doing other deals (sub2, short sale, etc...).

• 
  dds197017th October, 2004

  Hi Jeff12002,
  
  I've got a newbie question. What exactly does it mean to be the "principal in a real estate deal"?
  
  Thanks

• 
  jeff1200217th October, 2004

  A principal in the transaction is one of the "Principal" participants. When your name appears on the purchase and sale agreement as buyer, You are one of the principal participants. These could include Seller, Buyer, your assigns, or a leinholder. There may be others as well, but I think you have enough to get the idea.
  Good luck,
  Jeff