If you are interested in the wealth that is to be found in real estate investing there are some thing you should know before starting. First of all, until now, if you didn’t have enough experience or cash it would have been very unlikely to succeed in this area because real estate investing involves high startup costs and carries enormous risks. A lot of savings have been lost by new investors that have a lack of knowledge.

If you wonder if there is a way to take on this lucrative market with no cash, then the answer is yes. For those making a start in this field there have a buzzword among them, and that would be "bird dogging".

Bird dogging is a system developed for those who are interested in the subject of real estate to gain experience and income with no risk. The enthusiasm of the new investor and the money and experience of a successful investor are the factors that combined give the bird dogging system. Bird-dogs search for abandoned properties, lacking attention and try to get in touch with the owners and show them the idea of selling. This issue involves also owners with divorces, foreclosures or a death in the family.

Afterwards, bird dogs show the property to the investor. If by any chance the investor is interested in the property or even closes a deal, the bird dog receives a referral fee for the service of locating the property.

Your first step in becoming a bird dog is by finding companies that buy houses or take over the payments. Ask them which areas they’d prefer you to look at after you tell them what you’d like to do. Drive into the specified area and look for rental homes, boarded up home and "For Sale by Owner" signs. This way you will learn what individual investors are looking for over time. Being still in the learning phase, you will learn what the experienced investors consider deals "good" or "bad" by working with them. At first, as you learn, expect your finds to be turned down.

Depending on the investor or the cost of the deal, the fees paid vary from 500$ to 5000$. If you bring new investors into the business maybe some businesses will pay you a standard fee.