wholesaler, real estate investors, who to buy deals from, investors, realtors, birdogs

Should you buy deals from other Investors/Realtors/Bird-Dogs? (New Investors)

Hey, gang, this is Mike with My Real Estate DOJO and today’s lesson is about should you deal with realtors, investors and bird-dogs especially if you are starting out as a new investor, so let’s dive in and get started, gang, and I’ll answer that question.

My personal answer to the question is ‘no’. If you are a new investor and you are just starting out, you should not be talking to realtors, you should not be talking to investors or bird-dogs and I am going to break it down why. Why you should not be talking to an investor? Because they already know what the hell they are doing and you don’t know what you are doing.

You’re going to be wasting a whole lot of your time and you are not going to give you anything, they will just want your money. What I teach is that you should deal with motivated sellers directly. You don’t want a middle man. You can’t make money with middle man.

Especially if you are new, you don’t have a lot of money, you don’t have a lot of time. If you’re big as hell and you are buying 10-20 properties a month and you need inventory then absolutely use bird-dogs, use whole-sellers. If you’re just a rookie on the block it doesn't make sense to let somebody else to do something for you and do this shit and pay them.

The whole point is to do the hunting yourself. Young et chew-trained to get into the ring, you get chew-trained so you know how to be physically fit, not let somebody else do that for you. Once you become big- absolutely.

If you don't want to do it yourself and you want to have your own team, you wanted to get it from somewhere else - that’s great. Point of the story is, if you are new or entry level, I do not recommend dealing with investors, buy property from investors. Now there is an exception, there is always an exception. Nothing is 100% in life.

If you’re cold-calling, like I teach you, the rental section or if you’re driving for dollars or if you’re doing fitness for dollars, you come across a property and it's a tired landlord – they have multiple properties and they want to get out of the business. Then at that time it’s okay. But if they’re not a tired landlord, then I wouldn’t even fuck with them, because they just wasted my time.

real estate investing coach

You might think differently, but I would highly recommend not dealing with investors if you’re new. I, as a professional, I don’t like dealing with guys, because I can’t get the best deal. I get the best deal talking to the seller directly. That’s where I get my best deals. I’m practicing what I am preaching to you guys. Alright guys. Now, why not deal with realtors? All the properties I’ve ever bought, I’ve never dealt with the realtor.

Now this doesn’t mean that you shouldn't, but it just doesn’t make sense to me. I am dealing with motived sellers and a realtor is just a barrier inhibiting the deal to go through, because why? Because they have a civic duty to the seller, which makes them bring up any objection that’s in the way of structuring a deal, because all they understand is the traditional way of doing a deal. Since their neck is on the line.

Every little thing, for example, if I was going to buy a house and I would think there needs some work to be done on the title-work, but the tile was clean, I didn’t see any clouds and didn’t think there was going to be a hiccup, I would do a deal without title policy. I would do it as a professional, but maybe I wouldn’t recommend it to you as a rookie.

A realtor 100% is going to recommend to their clients that they get a title policy. Always! Where as an investor of high choices, it's a black and white situation. I am not a machine. You know what I am saying. I could do the risk and reward ratios. So again, deal with the realtor as a middle man to a motivated seller is just for me a waste of my time and I don’t want to deal with that. If the seller calls me, I am not a realtor, I am an investor and I tell him: “Hey, i wan to buy  your house, I am very interested. If you want to get this deal done you might want to keep your realtor aside”.

If they are motivated, if they want to sell to me they are going to go through with that. Or I tell them, “Hey, when the contract expires- hit me up. But I am not going to mess if the realtor is involve, because its just more hoops to jump through and as a cash buyer, I don’t have the time for all that”.

Somebody else may think it’s worth for them, but I don’t recommend rookie, okay, investors, fix and flippers, investors, whatever to deal with realtors involved, because we want to just talk to motivated sellers directly. Now, why wouldn’t I get a deal with bird-dogs? Because they don’t know that much shit and I don’t want to be paying them 50-100 bucks for a lead if i don’t even know if they did it correctly. Sure there is ways I can structure it to say “Hey, I’ll pay you at closing”, but what I found is that if a bird-dog brings me a deal and they are not going to get something for it, they are not going to be motivated to do that or its just going to be a bunch of junk.

Now if there’s a professional, maybe it's a different story, but the majority of bird-dogs are whole-sellers, who don’t have the balls or courage to step up to the next plate or spend time to get themselves educated, which is an easy thing to do, to become from a bird-dog to a whole-seller at a very small amount of risk. All you are doing is putting a dollar for option of making an offer, you’re talking to sellers.

So you’re just putting your sweat equity at a very small amount of risk. That’s why a bird-dog cannot understand about whole-selling because they don’t have the time or the idea to invest in themselves to learn to become a whole-seller themselves instead of bringing these deals to a whole seller and getting a couple of bucks. Alright guys, I just explained to you why I don’t like dealing with investors, realtors and bird-dogs. Now if you are new, I highly recommend staying away from that. I made this video, because so many people ask me all the time “Hey, mike. I got a deal from another investor, another realtors”.

advertise here

And I’m just like, guys, you can’t really get a good deal, dealing with these people that I have just mentioned to you as a new investors. Or even as a seasoned investor, I think, in my opinion.

Hey, gang, go out there and hustle and bustle, don’t take ‘no’ for an answer and make it happen for yourself. See you next time!

Leave a comment

Please note, comments need to be approved before they are published.