Getting a start in real estate investment can be extremely difficult. Without cash or experience, chances of success are next to none. It is possible for new real estate investors to lose their entire life savings on a bad investment due to lack of experience
So here’s the question: How do I get started in real estate investing without experience or startup capital?
The answer: bird dogging.
WHAT IS A BIRD DOGGING?
Bird dogging is a technique allowing new real estate investors to dive in and get their feet wet — without risking any of their own money. The best part: it pays!
What a bird dog does is find properties whose owners are eager to sell. These properties may be abandoned or rundown. They may also be properties in foreclosure, or properties whose owners want to sell quickly for any reason, such as divorce, death, or having to relocate quickly.
Once a bird dog has found an attractive property, they bring it to an investor. If the investor closes the deal, they pay a cut to the bird dog for finding the property.
HOW TO BECOME A BIRD DOG
First off, find a company who buys problem houses. Usually you will see flyers around town advertising “WE BUY PROBLEM HOUSES” or “SELL YOUR HOME FAST”.
Contact this company as ask them where in your town they are looking to buy. Cruise the neighborhoods in these areas and look for ‘For Sale by Owner’ signs, rentals, or abandoned properties (boarded up windows, unkempt lawn, etc.)
You will eventually get a feel for what types of properties individual investors look for. With experience, you will discover what deals are good and what are not. The best thing about this approach is that it costs you nothing but time, but you still get the experience.
HOW MUCH WILL WILL I GET PAID?
Depending on the investor and the quality of the deal, a bird dog can make between $500 and $5000. This is mostly dependent on the profit the investor stands to make.
Like previously mentioned, there is no cost to start bird dogging. It is quite possible to even make a decent living as a bird dog. But the best benefit to being a bird dog is the experience gained to spot a good deal and invest in it yourself when the time is right.
Source by Justin Kassube