Author Archives: Barbara Grassey

On Doing Big Deals

  When you are starting out in real estate, it’s very easy to get sucked into the fantasy of doing one big deal and making enough money to replace a year’s income.  It’s also incredibly frustrating to hear other investors or (online gurus) talk about the “killing” they have just made on a deal. While you’re congratulating them, you’re thinking to yourself, “What am I doing wrong? Why am I not finding deals like that?” Anyone who has been in the real estate investing game for any length of time will tell you that the “home runs” are few and ... Read More »

Problem Property? Just Say No

I saw an investor offer up a deal that looked something like this: Property has Chinese dry wall Pool is sinking into lake Anyone interested?   Now, in a seller’s market, when there aren’t a whole lot of deals to be had, this might be something worth looking at.  If you’re a complete masochist. Here’s the deal: Chinese Drywall: All the drywall has to be ripped out.  You will probably need to replace the electric and plumbing because the sulfur in the drywall corrodes them. You will need to replace the a/c system.  You will basically have a hazmat situation ... Read More »

You Need Room for Profit

Profits in Real Estate

Jay is working on some more tips of the week for people on our list and he asked me, “What are the five things you look for in a deal?” I won’t tell you all of them (hate to steal ALL of Jay’s thunder) but the one that jumped immediately to mind was “There has to be enough room in the deal for me to make my profit.” Sounds pretty basic, doesn’t it? That came directly out of a conversation I had just had with a sister investor. (Hey, can’t leave all the deals to you guys!) My friend was ... Read More »

Do you need to be a licensed agent to bird dog?

Not necessarily, but in some areas, you should be licensed.  In most areas, you can work as a lead generator or quickly move into either a wholesaling position or an equity position so you are not violating any laws.  Times are tight and real estate agents are hurting.  They do NOT like bird dogs encroaching on their territory so you want to make sure you keep your nose clean and do it right.  Check with a local attorney to make sure you don’t violate any laws. I bird dogged a lot of properties for investors in my area and I ... Read More »

How Much Do Bird Dogs Make?

Fees paid vary from $500 to $5,000 depending on the investor or the cost of the deal.   Expect your fees to be in the low range when you are starting out.  As you become better able to identify “good” deals for your investors, your fees can go up.  Remember, if an investor isn’t making money on a deal, he can’t pay you or more likely, he won’t buy it in the first place.  And here’s another bird dog income stream to consider: Some businesses will also pay you a standard fee if you bring new investors into their business. ... Read More »