Finding property deals for investors

Paid Property Finder is about how real estate investors find properties to buy, and where the rules come in when someone is paid to find them.

Investors find deals in a few common ways: driving neighborhoods for vacant or run-down houses, mailing owners, networking with agents and wholesalers, and watching public records such as probate and tax lists.

A person who finds leads for an investor is often called a bird dog. The work is spotting likely properties, gathering the facts, and passing them to someone ready to buy.

Rules on paying someone to find property differ by state. In Texas, being paid for bringing a buyer and seller together can require a real estate license, so talk to a licensed Texas real estate professional or a real estate attorney before you pay or take a finder's fee.

A good lead is more than an address: the owner's situation, the condition of the house, and what similar houses nearby sold for.

Guides on finding deals and judging them are on the way.