I recently decided to get into real estate investing. I do have some basic understanding of real estate investing.
I was attracted by the idea that no money and no credit is needed to make money in real estate since I don’t have huge amounts of money and my credit is shot.
A couple of days ago I bought the book “simple man’s guide to real estate” by Bill Vaughn and I am just starting to read the book.
I hope to get my feet wet under the guideance of an expert investor. I live in Solano County of California.
Truth is it takes money to make money. When I first got into Real estate I wanted to try finding properties for investors. In that case you can easily get yourself out of a sale, and the investor will exchange funds with the buyer so you dont get paid.
I suggest you buy a property, for a very low price like a bank owned or comdemed property 10,000 is a good goal in this market you can easily own 3 properties for 25 grand. fix them up and rent them out until you sale them.
I completely agree with pheren. No doubt you have interest but reading material and doing business under the sun is different. It is better that you start from very small and know the market first. Then you make your next move. You already have a better position because it’s California. I wish all the success.
It may take money but it does not have to be a ton of money. You can lock up a contact or an option with $10 bucks and wholesale the deal for 5K to 25K depending on where you live quite easily. You can also get OPM to invest as well. I love private money lenders.