Hello All,
I am new to this site and I need help with starting my real estate venture. I would like to start flipping houses but i have no money to put down on any property which is holding me back, If anyone can advise me on how to go about starting my first investment i would really appreciate the help
Farhanq,
You have lots of useful info right before you finger tips here on this forum, you just have to search for it. Its all here, and of course we will help you along the way. Just search around a little bit. You are defiantly not the first person that wanted to know how to get your business started.
Cheers,
Delondon :biggrin
You need to get educated. Learn aobut the different real estate investment options pick one to master and go for it. I will always say wholesaling is a great place to start for someone new.
Information Information Information, this site will help you, as well as other sites just google.
Also, this is not often mentioned but you need to know that work is involved with what you are preparing to do. This is not a get rich overnight business. Be prepared to work, and work and work. Join an investors club, network, get an attorney for closings and contracts, and market market market.
If you have no money flipping houses should not be your first focus…flip contracts!! less mess and build cash…lol
I think you will take training under a good Realtor. If not then you will take loan from bank but when you have a client for sell this property.
HUH!! What are you talking about? This had nothing to do with the question. :bs
I am excited for you and your new venture! After getting a taste of what real estate has to offer you won’t want to go any where else. I promise you that this industry is the best out there!
As far your question, why do you need money??? You will be wholesaling property you need no money of your own to get started in this business.
All the deals i did my first year I put down between $1 and $10… SERIOUSLY, no joke! How could I look the seller in the eye and not lose my posture? Plain and simple I needed the money that I was going to make off the deal. In addition, I explained the reason behind putting down such a small amount of money. I just wanted to make sure the deal was legal and binding. It’s that simple!
Don’t tell anyone I told you this, but many times I did not even have $10 on me and though it was written in the contract as earnest money put down, the owner never bothered to ask for it. Many times I didn’t even have it.
You need to get your hands on as much training material as possible to go in confident. There are a ton of ways to do these deals with ZERO out of pocket.
Hello All,
Thank you for the wonderful responses, so i have been researching as much as i can which by the way is blowing my mind. Here lies the problem all these properties that i am interested in are bank owned properties, would i need to deal with the bank directly or the listing agent ?
Thank You