A Property Scout’s Guide To Finding Real Estate Deals in Birmingham
So You’re Thinking About Being a Property Scout?
There are a lot of names for this job…deal finder, bird dog, deal locator, property scout… but in the end all it is, is someone who wants to make extra money locating distressed properties for investors, like us.
You may already drive around town for your current job and this would make a great side hustle for you. We’ve put together this handy guide to help answer any questions you may have.
To be a Successful Property Scout, Here Are a Few Quick Tips to Start:
You need to find actual deals!
Seems obvious, right? What we are not looking for are:
Properties listed with a Real Estate Agent on the MLS
For Sale by Owner
Obviously inhabited and kept up with
Completely fallen down (ie. we’d have to demolish and build new construction)
Anyone can log onto Zillow or Trulia and find these properties so you need to bring value by finding diamonds in the rough aka fix and flips aka off market properties. We’ve all seen them riding around the neighborhood. That eye sore of a house that just isn’t like the others. Some examples of what we are looking for would be:
The grass is over grown
Windows are boarded up or broken
Code violations taped to the front door
Newspaper piled up in the drive way
Blue tarps on the roof
No curtains and you can see straight through
Missing gas or electric meters
Very obviously physically distressed property with deferred maintenance
You get paid for each APPROVED home!
Again, this is pretty straightforward, but we like to be 100% upfront with everyone we work with. Sometimes you can drive around and find 2 deals on one block. Other times, it will take more effort to find good properties.
What’s the catch?
Let’s be clear: this is NOT a get-rich-quick scheme. Anyone who tells you differently is probably overselling and will likely under-deliver. This is a great gig that you can do in your free time for extra income.
Will you make $1000 your first day searching? It’s possible, but probably not.
Can you find multiple good deals every day? Every week? Absolutely. As long as you stay committed and keep an eye out for distressed properties, you’ll find deals!
Being a Property Locator is a great first step to becoming a real estate investor yourself. Now let’s get started!
Here’s What We Want…
We want Property Scouts to find properties or owners that are DISTRESSED. Distressed means that there is a problem or situation that might allow us to buy a property for less than market value.
We need Property Scouts to keep their eyes and ears open for potential opportunities.
We buy houses in any conditions and in all areas. We are mainly looking for properties that would be hard to sell to a retail buyer who is looking for a home for their family. We want to purchase properties that are in need of minor TLC and updating to major renovation and repair. In addition we are looking to purchase properties where the owners owe more than what the house is currently worth.
Where To Look…
Anywhere in the Birmingham Metro (not including Tarrant, Fairfield and the City of Centerpoint (outside the city limits is fine)) Below, we’ll tell you about our favorite areas.
What Do You Have To Do
You will work on your schedule when you can and want to. The beauty of this opportunity is that it’s extremely simple and you can make money quick! We don’t require you to do any paperwork or contracts, all you have to do is locate properties that fit our buying criteria, deliver us the lead, and we will do all the rest of the work!
Before stepping foot in your car, it’s a good idea to establish an area to drive. Plan your route and ALWAYS drive safe and slooooow. Pick one area and stick to it for the day.
When you spot a potential property… Pull over, if it’s safe.
Park. Then investigate. Nothing is more important that this!
Areas We Buy Houses In
Each area will have varying exit strategies: from wholesaling to wholetailing, from fix-and-rent to fix-and-flip, from subject-to deals to lease option deals. Ultimately everything starts with finding good deals! We adapt the exit strategy depending on the details.
The top areas we like targeting in Birmingham are:
Ultimately, we’ll take a look at any property you find. It’s just that these areas are “hotter” markets for us. You can also use the interactive map below to get a better idea. *Outlines are not exact*
Your own legal transportation (valid DL, insurance, registration etc.)
A smart phone w/ data
Address & 1 photo of the front of the house (see below)
The desire to make money in Real Estate!
The picture you take will be used in marketing to the property owners so please keep that in mind when taking the picture. It is IMPERATIVE that a good clear image of the entire front, side to side, is taken. I can not stress this enough. We want to make money just like you and it all starts with a good clean picture of the front of the house. Take a look at the differences between the four photos below. Properly framed photographs make all the difference and it takes an extra half a second to do!
Get Started Now
Simply fill out your information below and hit submit! Or feel free to call or reach out on Facebook, Instagram, or Twitter with any questions you may have. We’ll get in contact with you shortly, and email you a link to sign up and download the Deal Machine app as well as the independent contractor contract. Again there is no obligation and we look forward to building a profitable relationship with you! Please let us know if you have any questions. Thank you for your interest in working with Home Buyers of Alabama.