Beginners in the real estate investing business are surprised to learn that it is possible to build a buyers list before you ever have a property under contract. In fact, it is best that you have the list built ahead of time.

You want to be in the position that when your first contract is in your hand and you have a property to flip, you have a list of potential buyers to call or email.

Just as a bird dog sniffs out game for the hunter, so a real estate bird dog sniffs out deals for the real estate investor. If you've been looking at real estate investing and have wanted to learn more, but you don't have the capital or the know-how, becoming a bird dog could be the best place to begin.

What Does a Bird Dog Do?

Real estate investors are busy people.

Taking a property subject to the existing loan, is one of the ways in which real estate investors make a great deal of money. While the process is quite simple, it seems to be a clouded issue for some people.

First let's look at how simple the process truly is. The term "subject to" refers to the fact that you will be purchasing the property subject to the financing that is in place at the time.

Assembling your team will not happen overnight. It will take time and effort. But it is something you need to give special attention to.

You will want to begin by creating a list of the qualities you want in your team members. While experience is valid and necessary, it can often be a challenge to find those who have the same values that you do.

You don't have to be in the business of real estate investing for very long before you hear the ongoing controversy - should you work with real estate agents or not? Some will tell you, absolutely not. The reason is that real estate agents are unfamiliar with the real estate investing side of the business; therefore they will not be receptive to creative deals.

You've heard about real estate investing, and you're considering getting into the business, but you're still somewhat confused. What does it actually mean to wholesale properties and how can a person get started in this business? You've heard it might be illegal. You've heard that you can't deal in real estate without a license. What is the truth?

First of all it is perfectly legal to "flip" - as it is called in the industry - properties.

The thought of negotiating a purchase or sale is frightening to most newbie real estate investors. "I don't know anything about sales or negotiating, I just want to wholesale properties" you might be saying. "They didn't mention that in the 2AM infomercial I watched."

When you first learn about all the wealth to be gained in real estate investing, no one tells you that you will be sitting across the table in deep negotiations with people to try to convince them that you have the best answer to help them get out from under their problem property.

How did you first learn about the business of wholesaling real estate? Did you read a book? Or hear it on a 2AM infomercial? Or perhaps you know someone in the business. No matter how you learned about it, you quickly caught on that there was money to be made in the business. You may have seen incredible examples of people who found bargain properties, purchased them for pennies on the dollar, turned around and made a nifty profit.

Newbie real estate investors spend a lot of time running. It's the nature of the beast. There's an air of excitement and exuberance. You get a lead and you want to see that property now. Not now, but right now. The potential seller says to you, "Just drive by and let me know what you can do for me." If you do that, you are definitely still a newbie.

When your real estate investing business is in its infancy, dollars spent on marketing must be spent carefully. It's easy to listen to the advice of the gurus (who probably have much more expendable cash than you do) telling you to get a Yellow Pages ad, or to send out mass mailings, and on and on. It can get confusing.

The key to good marketing is not how much money you throw at advertising, but how well you manage your marketing.