| By Wade
Ogletree
A birddog is someone who scouts possible investment
properties for investors and earns a finder's fee for
doing so. Most birddogs would tell you that what
they do is legal, but the arguments are often based on
a misunderstanding of the laws of their state.
In most states, if not all (and I believe it is all),
paying a fee to an unlicensed person for real estate
services is illegal.
The Southern Investor holds to legal, ethical
business practices. Instead of illegal finder's
fees, we either deal with a) real estate agents and
their commissions and/or referrals and b) licensed and
unlicensed partners who become principles in the
transaction. If you are currently working as a
birddog, you can work with us as a partner and do so
legally.
Real estate investors are dependant upon the
birddog tradition, and the Southern investor
understands that. However, even among hunters,
there are legal and illegal ways of doing
things. Make the right choice.
In addition to legal modes of payment, we also
emphasize the importance of full disclosure.
Buyers and sellers must understand what we are doing
and be in agreement. Too often, the world of
real estate investment in marred by corrupt practices
that are not worthy of the name investment.
Fraud is not investment.
Now, as an investor, you may fear that it would be
too difficult to secure enough good deals in your area
and still do it legally and ethically. Fine,
broaden your scope. Don't lower your
standards. Think national, not regional.
Go where the deals are. People are selling at a
discount everyday--somewhere. Southern Investor
is all about finding those deals and working them,
ethically and legally.
Add a dose of southern hospitality to the way you
do business, and change the face of investment real
estate.
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You're due for a touch of Southern Profitability. Southern
Investor is your real estate investment resource, presented by Wade
Ogletree, Century 21, Professional Services.