Is This Birddogging Or Wholesaling?
I guess I am a little confused on what a birddog role is compared to a wholesaler.
I found this house ARV $500K, needs $30K repairs, Mortgage Bal $370K. Potential 100K profit. I can;t buy the house, but I know another investor who can. I was going to charge him $3K (3%) of the profit. Another inventor friend told me to charge atleast 10-20% for the deal. The investor still makes $80K. If I do that will I be wholesaling? Do I get a contract from the seller, then do an assignment of contract to the inventor? I have never seen an assignment of contract, so do I get the investor to sign it immediately after I get the seller to sign to the sales contract?
Confused?
Wholesaling i guess would require assignments. Birddogging is when youre not involved in the transaction other than just bringing the deal to the investors plate for a usually smaller fee than assignment. Birddogging requires less involvement in the property and no risk.