Assigning vs. Wholesaling vs. Bird Dogging...???

Assigning vs. Wholesaling vs. Bird Dogging...???

I'm still a bit confused on this. Basically, what's the difference between these 3? I understand they all involve finding properties for investors & receiving a commission/fee % from it. But is there really any major differences I'm missing, or are they all technically the same thing just termed differently depending on who you talk to?

Also, which one would be the best way to start out when you have VERY little money? I'm in the middle of reading Deans' PFRERN book I totally believe this could be huge for me! I'd like to get into Dean's Success Academy & I talked with one of the Coaches yesterday on the phone, but unfortunately don't even have the minimum to get started & no job (I'm a stay@home mom). So I figure the "finders fee" type of deal as a good way for me to pay for it.

So again, here's the breakdown of what I need to know...

A) What's the difference(s) between assigning, wholesaling & bird dogging?

B) Which would be best/easiest to get started with?

Thank you,
Celisse

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Hi celisse

A) BIRD DOG- A PERSON WHO IS PAID A FEE FOR THEIR EFFORTS IN FINDING GOOD INVESTMENT PROPERTIES FOR OTHER REAL ESTATE INVESTORS (MOSTLY WHOLESALERS)

B)ASSIGNMENT-An assignment of rights under a contract (aka assignment
of contract) is a transfer of a right or obligation of one
person to another. In real estate investing, you put a deal
under contract to purchase from a seller. In the purchase
contract, you negotiate the right to assign your contract.
Then, once you find your investor buyer, you fill out an
assignment of contract, make sure the assignment
contract is given to the closing agent, and collect your
money when the seller and buyer close the deal.
Double closing Purchasing a property with an investor’s money and
immediately selling that property to the investor for a
profit.


C-wholesale

C)Wholesale- when u buy properties for less than the fair market value and resale them for a profit


Which one to do....

im new too but im gona do the wholesale cauze u find the properties really cheap and u sell them for a larger profit but maybe u can start with the bird-dogging but most of important u gotta start with your buyers list????


wholesaling, etc.

Celisse,

you can go to search/enter on the top left of the homepage and look up any topics you want to read about...below is a thread on wholesaling...

http://www.deangraziosi.com/node/5585

you need to study some more so that you can decide what is best for you or what you feel more comfortable doing...

Even if you want to do birddogging, you will need to know how to find a property, evaluate it, present it to your investor, and know what documents to use...

Wishing you success,

valerie

__________________

Valerie

“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...


just assigning & bird dogging...

Josecasarez wrote:
C)Wholesale- when u buy properties for less than the fair market value and resale them for a profit

OK, I must of been confused there then. So wholesaling isn't related? Just assigning & bird dogging are technically the same thing, correct?


re: valerie

Valuni wrote:
Celisse,

you can go to search/enter on the top left of the homepage and look up any topics you want to read about...below is a thread on wholesaling...

http://www.deangraziosi.com/node/5585

you need to study some more so that you can decide what is best for you or what you feel more comfortable doing...

Even if you want to do birddogging, you will need ot know how to find a property, evaluate it, present it to your investor, and know what documents to use...

Wishing you success,

valerie

Hi Valerie,

I actually use the search bar on a regular basis. I did do a few different searches over several days time but nothing came up that directly answered my question, or close enough that was satisfactory to my understanding. After awhile, I just started getting confused the way I people would reference each of them, so I wanted to clear up the confusion for myself.

In regards to finding properties, I'm a self taught internet marketer (6+ years) so I do have a general understanding of how to go about it online & am still reading through this forum & studying Deans' book so I have the researching techniques down pat for when I get started...


hey calisse

I'm new at this as well, and i'm thinking about Bird Dogging first. I personally think is the best one because it will boost my confidence and help me identify good and bad deals. Then i could move on to the other ares like whole selling, and even tax sales.


wholesaling

I think wholesaling is the way I want to proceed.Find properties,decide a price put the property under contract,find a buyer decide a price and close the deal and get paid.


Stephanie

I haven't done my first wholesale deal yet but I'm working on it. As I understand things, bird dogging is when you locate a property that would make a good deal for for a buyer. You look for motivated sellers and you have to learn how to evaluate the property to determine if it would be a good deal to an investor looking to purchase the home. If the buyer accepts your find and actually closes on the property, you will be paid a fee from the buyer. You would use a Consultant Agreement between you and the buyer to ensure that you receive payment upon the deal closing. Basically, you are working for a buyer to help the locate properties to purchase.

Wholesale Assignments are when you locate a property and after talking to the owner, you are able to offer the seller to purchase the property for an amount under the fair market value (FMV). You would use a Purchase Agreement, which would include a clause that would allow you to assign your right to purchase to another buyer. You would also include contingencies in that agreement that would allow you to get out of the purchase agreement in the event you do not find a buyer to assign the contract to. The purchase agreement allows you to take control of the property and it is important that you do that first. It is important that you establish a list of buyers before you take control of a property so you can more quickly find a buyer from your list who wants to take over the property. But here too, you must be able to evaluate by crunching the numbers of the deal so you can provide this information to the end buyer to establish that the deal is worth the buyer taking it. You must learn how to evaluate the property because if you can't provide correct and worthwhile information to the end buyer they may not take you seriously. At any rate, if the end buyer accepts the numbers, you should do an Assignment Agreement with the end buyer to protect your profit as the wholesaler. Your profit will be calculated in the numbers that you crunch and provide in your evaulation to the buyer.

The difference between bird dogging and wholesaling is that when bird dogging, you do not get the property under your control. You only locate a property that is a good purchase deal and try to see if someone from your buyer's list wants it in order to get a fee paid to you. In the Assignment, you must get the property under your control before you can assign your right to purchase to another buyer

When Bird dogging you only need a Consultant Agreement. When you are assigning, you need a Purchase agreement with the seller and an Assignment Agreement with the buyer.

If you really don't have the financial means, you may want to bird dog first before getting into wholesale deals. Bird dogging will allow you to gain a better understanding of the business before you go to the next level of wholesaling. A very important thing to learn is how to evaluate the property to know if you have a good deal or not and you need to be able to do that whether you bird dog or wholesale.

I hope this clarified things for you. I've done a lot of studying and I hae decided to bird dog a little to help me finance some future wholesale deals as well as to be able to fund some of the one-on-one training that is being offered on this site.

If I didn't get this just right, hopefully some of the seasoned investors will let us both know.

Good luck to you.

I hope I helped you get a better understanding of the two.

__________________

Always striving to move forward toward better times!

Verna (newage8767)


Stephanie

Wholesalers assign their deals to end buyers or they double close them. These fees are about 5% of ARV

Bird dogging is simply finding properties for buyers & sending them an address & maybe pics & they pay you anywhere from $300-$1k to 2k depending on where you are. Here in San Diego it is a hot market it is about 1k-2k, KC Mo $300-$500

so it is better to wholesale like Dean n Matt says. YOu can start out by bird dogging or do them whenever you have too many leads & you just want to make a quick buck with little or no effort. Smiling

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Tony

Go faster do more! GFDM!