I am 2 months out of Chapter 7 and my credit score is 545. I’m on a very limited income so I don’t have extra money to put into real estate investing. I’ve read many books on real estate investing and have had first hand experience managing and running a mobile home park. I just don’t know how to get started without puting my own money into it. I’ve heard that there are ways to do it, but in my reading I haven’t found any answers as to how. Any help or advise would be greatly appreciated! I am currently in the Fort Worth, TX area but plan to move to Montanta in the Spring.
How do I get started in Real Estate Investing with no money just out of Ch. 7
You are in the perfect market to start out by ‘wholesaling’. This is very simple. Start driving for dollars and take down all the addresses of all the vacant or boarded up “ugly houses” in your area. Research the owners thru the tax records. You can then tie-up these properties and ‘wholesale’ them to other investors. A ‘wholesale’ deal is anything under 70% of market value.
I would recommend buying a course on ‘wholesaling’ and read every post on this site regarding ‘wholesaling’ also…
Thanks. I will do it!
I am new to this also, but learning alot. In your reply to Dreamlandworld, you mentioned “Wholesaling”. After researching the ugly/boarded up properties, how do you “tie-up” the properties and “wholesale” them to investors?
Thanks for your help!
You would tie up properties by getting them under contract or optioning the property.
how did I do it, cause thats all I can share really, I bought steve cooks course 200 bucks sold right here on this site wholesaling for quick cash, and did 65 houses in 20 months, thanks steve!
read all you can on everysite on birddogging and wholesaling, then work like a dog so you dont have to after a year.
thats precisely how I did it.
Sounds like a plan. I’m just getting started and this exactly what I intend to do.
I think its great to see someone trying to get started in this business! I live in Cleburne Texas just so. of you! Whats money??? DFWREIN has meetings every week. Try to make as many meetings as you can. We have so many investors looking for houses to buy,you will surely find a (mentor). The only money you will be out is for your meal,or your gas to start.
Use your computer to generate the broshures and make up your own business cards with a 17 cent poster board!
When you attend a meeting you can ask all the questions you want! You will find a mentor who will be very happy to show you the roaps! joe hagan 222