Posted by Brent_IL on February 05, 2004 at 02:31:52:
If you are a newbie, you don?t need a scout. You wouldn?t know what to do with any deal that a scout brought to you.
The simple way to become a scout is to go to a local creative real estate investment club and ask the group leader to point you in the right direction. You will come into contact with investors who will explain what they are looking for. Be very clear about when you will get paid, how much you will get paid, and what exactly you have to do to get paid.
Most birddogs work without a contract. Actual investors will not try to avoid paying you because they will want you to go out and find more deals for them. Sometimes other newbies who have read a few books will be able to talk the talk, but will not be able to walk the walk and actually close on the deal that you have found. That?s why a referral from a club is valuable. It?s not foolproof.
Payment usually depends on the extent of the information that the investor requires. Someone might pay $10 for the address of a vacant house. Someone else who wants extensive seller and property info might pay $1,000 or $2,000. If you need to get too much information to get paid, you may as well learn to wholesale, or to flip the contracts.
The archives can be searched and contain an abundance of helpful information.