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On this podcast episode I talk about how to be a deal finder or property locator.
To listen to this podcast episode click on the white arrow in the black bar at the bottom of this page.
In the wholesale real estate industry we call deal finders “bird dogs”. Being a deal finder or property locator is hands down, the best way for you to learn if you are a beginner. Knowing how to find wholesale deals at wholesale prices is the foundation of being a wholesale real estate investor.
It doesn’t matter if you want to be a wholesaler, a landlord that buys rental properties, or a rehabber that fixes and flip houses. Either way, you will need to be able to find wholesale deals at wholesale prices. Once you know how to find deals, you can wholesale, fix and flip or keep the properties long term. The key is to know how to find the properties at a discount price that makes sense for you (and others) as an investor.
Once you know how to find deals for other investors, you will become much better at finding deals for yourself. Remember that ANY deal that you find could potentially be your first rental property or your first fix and flip or your first wholesale flip.
What get’s beginners stuck are obstacles like:
Being a bird dog solves all of the above problems. You don’t need credit since you are not the one purchasing the house. You don’t need money since the investor you are flipping the house to (or getting paid a fee from) is the one who has to come up with the money. You don’t need to worry about having cash buyers since your investor(s) are your cash buyers. And you don’t have to be stuck in paralysis analysis any more.
All you need to do is FOCUS ON FINDING WHOLESALE DEALS AT WHOLESALE PRICES. And when you do, you get paid a finder’s fee each and every time. That is how I started out. I spent my first two years in real estate as a deal finder/property locator before I had the knowledge and confidence to go it alone. Being a bird dog is a great way to start and learn for free, without risk, and it’s also a great way to build up your confidence. When you see the investor that you flipped the property to, fix and flip the house, or keep it as a rental and refinance it then you will understand how wholesale real estate works. Once you start figuring this out, it won’t be much longer before you are buying your first rental or your first fix and flip. However if you do what most beginners do, then you stay stuck in paralysis analysis mode forever. The easiest way to overcome your fears of getting started is to find deals for other investors. That is what our Partnership Program is all about and why it is our most popular product.
But it all starts with knowing how to find good wholesale deals at wholesale prices. Regardless of whether you want to wholesale, buy rentals, or fix and flip you need to know how to find good deals. And that is why I think it’s the best place to start. I spent my first two years as a bird dog working for my mentor Ben and his partner Alan. That experience was priceless. I had zero risk, did not have to risk any of my own cash (or credit) and I learned how the wholesale real estate business works. After two years, I was confident enough to buy my first rental property. And I have never looked back since then.
On this podcast I also explain how our Partnership Program works, and how this real estate bird dog program was created as a resource to help our new students that were starting out in order to teach them how to become deal finders.
To listen to this podcast episode click on the white arrow in the black bar below.