Bird Dog (Real Property) Law and Legal Definition

“Bird dog” is a real estate investing term that refers to someone who spends their time trying to locate properties with substantial investment potential. Generally, the intent is to find properties that are distressed and selling at a discount that can be repaired or remodeled and sold for a sizable profit. However, the term sometimes is also used to refer to people who find underpriced properties that would make (rental) properties. The term is a reference to hunting dogs that would point to the location of birds and then retrieve them once the hunter had shot them.