Hello, everyone! I am eager to start and become a real estate investor. Why? Because I believe my time is worth more than anyone else is willing to pay for and if other people can do it so can I. Anyways, I am very new and most likely will be starting out doing lease options and subject to’s. My question is how did you get started in real estate investing? I just want to make sure I am doing the right thing from day one. I am doing this with no money and without any of my credit. Thanks.
I obtained knowledge of real estate investing, and decide which field of Real estate I will going to pursue. Then, I seek for a professional advice, I also attended various real estate seminars.
First off…If you have NO MONEY, your career in real estate investing is going to be very short!!!
The idea that you can be a real estate investor with NO MONEY is a JOKE told by people selling idiots a dream on late night TV infomercials.
If you REALLY want to invest in real estate you WILL NEED MONEY and CREDIT helps too.
If you don’t have a LOT of money you can still participate, BUT your “job” will be FINDING great deals for OTHER INVESTORS…The one’s with MONEY!!!
To do that you’ll need to FIND DEALS NO ONE KNOWS about…NOT on the MLS…I’m not gonna get into HOW you do that…Re-read some of my old posts, it’s all in there.
But honestly…You NEED MONEY to be any kind of INVESTOR!
Jake is right. Without some type of funds or “skin in the game” you are going to be spinning your wheels. As he suggested, the best way to start is at the bottom and learn as you move up. Start off by bird dogging for other investors. Go to your local REI club. Get to know the local investors. Find out what they are looking for. Find out what your market is like. As you learn what other investors are looking for you will learn what you will need to look for.
Maybe, one of those investors that you work with will mentor you.
The best of success in your endeavors. :beer
I got started while I was still in the US Army. I liked the whole ideal of in out money wholesaling real estate. You don’t have to have money to get started. If you can spend 100 bucks on some marketing material you will make it in this game. Anyway, because I got deployed to Afghanistan my last year in the military, that put my investing on hold for a year, but not on my learning. I came back from the war with major things on my mind, but in a positive way. Had a deal done with in 2 weeks after sipping tea in Kandahar Afghanistan.
I look at it like this, if I can do it, anybody can. You just have to want it bad enough.
While I am not considered a full time investor, yet I am on the right track:
I started as FDJake did in the car business learning how to buy and sell from people. I then became a retail broker for a few years leasi g out space and sold a few commercial properties. I hated it.
I am currently running a restaurant and picked up my first house as my first investment. Foreclosure in need of work in a decent area. I bought on st patricks day and am currently living in it after remodeling. I have a live in renter so I live relatively free in my sweat equity house.
i figured I would probably have to bird dog until I have some capital. Is this how most people start? Currently I am looking for a mentor to help me through the first few deals. Any suggestions?
Do what im doing Fes, work hard and save. Preferably around 30-50K.
If your time is really so “valuable” as you say, then you should have no problem finding somebody to pay you for your excellent skills, enough pay to save.
Milwaukee and Delondon,
How about you write a new blog, or just on here, about how you did what you did. That’s EXACTLY what the newbie investors need to hear.
Break it down, step-by-step, including how much money and time you used to get started. Good posts from you two. You can inspire others and it’s fun to read about your paths.
I started with nothing.
But holy cow did it turn out to be a lot more difficult than I thought it would.
What were the hurdles that you had to go through? I have to do this with no money since I have little or no money.
I’d start off reading the thousands of fdjake posts on this forum.
Meanwhile read this thread:
Read the entire thing. What that Spex_x dude took the time to post should be compiled into a book. Probably the most comprehensive best hundred+ page real estate thread you’ll ever read.
Thanks for the link to the discussion. It helped out a lot. I am in the Puget Sound/Seattle area so I am going to join a REI Group soon. I figure it would be to my benefit to find a mentor so I can see the deals taking place and gain the experience.