Whats The Difference Between Wholesaleing/flipping And Birddogging
I am interested in all three of these areas and is ready to get started in the one that will be most effective for a beginner flipper/birddogging. 
I am interested in all three of these areas and is ready to get started in the one that will be most effective for a beginner flipper/birddogging.
At my real estate group a birddog is someone who goes around looking for deals and assigns them to someone else.
A wholesaler is someone who buys many properties at one time or mortgages or sell them off individually.
A flipper is someone who buys, rehabs, and sells the house to someone else for the appraised value. (mostly to a family who plans to live in the property)
There will be many answers depending on what part of the country you are in. I have seen these terms intertwined to mean the same thing on this site, so I have to read between the lines to figure out what is meant by each post.
Lori
[addsig]
I consider one who wholesales properties the same as one who "flips" properties.
The difference between the above and a bird dog is that the above person knows alot more, and you get a deal that is much more complete than what a bird dog would bring you. A bird dog might give you the names and numbers of the property. A wholesaler would assign you his/her contract with the owner.
Did I explain that in an easy to understand format?
Ryan J. Schnabel
What is the average profit for a bird-dogger? Is there a standard formula?
Most bird dogging fees are only $500 because you are just bringing a possible referal to an investor. A flipper/wholesaler gets the property under contract and then assigns property to an investor for an assignment fee usually $5,000 and up depending on property..
A birddog finds properties for other investors for a fee,which is negotiable. A wholesaler/flipper gets a property under contract and assigns the contract to a rehabber. A rehabber buys,rehabs,and sells to a retail buyer.
bird dog fees vary greatly depending partially of the market for them in your location. Think about it though.
1) your competition is simply locating properties that appear at a cursury glance to meet a specific investor's criteria. This investor knows nothing, but an address, and has a picture or two of the property, and must move forward from there.
2) You decide to offer a premium service. You not only have pictures, and an address, you have names, contact information for the property owners. You have spoken with them, and determined that they are looking to sell. You have pre-qualified them as anxious sellers, and have listed their motivation. You have an estimate of what the house is worth, and what is owed. You know the general condition of the property, and they are waiting for a call from your investor to set an appointment to meet with them to see the house, and discuss the possible deal.
How much more is your lead worth?
In any market, your lead is worth exponentially more than the first example, and investors will pay many times more for the additional information that you can provide.
Your services will be in demand, and your leads will be worth a premium price.
Your choice,
Jeff
I know little to nothing about wholesaling. From the posts above, is it fair to say that wholesaling is the next notch on the totem pole above bird-dogging in which, beyond finding motivated sellers, you actually get a contract signed with specified terms and then just sell the contract to other investors? Thanks.[ Edited by ramgon1280 on Date 04/02/2004 ]