Real Estate Mentoring for Real Estate Investors

The term “bird-dog” refers to an individual who identifies lucrative real estate investment opportunities and directs investors to the deals for a fee. Bird-dogging is a great way for an individual to generate income via the real estate industry without actually investing money. Instead, bird-dogging requires time and an eye for a good deal. In short, bird-doggers are lead generators.

There are several methods to bird-dogging. Some individuals simply compile a list of addresses for their investors. Others, however, really do some legwork and supply their investors with addresses, images, repair estimates and market value data for each location. Obviously the more information the investor receives, the more likely a transaction will take place.

Bird-dogging can be used as a way to make income in the real estate market for individuals who don’t have the credit or money to buy and sell. Additionally, it is good way to learn the ropes of investing before diving into the game.

The terms wholesaling and bird-dogging are often used simultaneously. They are, however, not the same. Wholesaling is similar to bird-dogging, but requires more effort. Instead of pointing the investor to a real estate deal, the wholesaler tracks down and purchase the property with the intention of reselling to another investor. The key here is to leave enough potential value in the home so the rehabber can fix and flip the property for a profit.

Typically, a wholesaler has adequate deposit money in hand and the knowledge needed to gain a written contract on the property. From here, the wholesaler shops the real estate to other investors. The art of wholesaling does require a certain amount of know-how. Talented wholesalers can profit in the industry. Others use wholesaling as a stepping-stone into the investment market. Either way, when done correctly, there is money to be made in wholesaling.

Marketing is a critical aspect of every successful business venture. Without marketing, a company or individual loses visibility among consumers. Without visibility, the number of new and possibly current customers will undoubtedly dwindle. Unarguably a business needs clients to thrive, therefore it also needs to market its product or service.

The concept of marketing boils down to the old saying, “It takes money to make money.” Money is a common deterrent when it comes to advertising. While marketing tactics range in expense, just about any sort of campaign is going to come at a cost. That cost, however, is worth it.

As previously mentioned, the primary purpose of marketing is to build and maintain visibility. The secondary objective of marketing is to gain credibility as a service or product provider.

An individual may be inclined not to market if his or her business is doing well. How many of us, however, can actually say we don’t want or need more customers? More importantly, not marketing actually decreases both visibility and credibility. On the flip side, an entrepreneur who is not doing well may consider cutting back marketing funds to save money and make ends meet. But how will the customers know where to go when they need that entrepreneur? In short, marketing is just as important during the good times as the bad.

Lastly, marketing is essentially communication between the consumer and the entrepreneur or business. It is used to convey any and everything to anyone who happens to be listening. Through effective marketing, relationships are nurtured, partnerships are formed, and money is made.

The good news about marketing is campaigns come in all shapes and sizes. If times are tough, it’s time to amp up the campaigns, but not necessarily the marketing budget. With proper planning, there are plenty of ways to get a message to consumers without breaking the bank.