I really want to learn more and get involved with real estate investing, however I lack the capital to do so. I was wondering if there were ways I could get hands on experience without any capital (I’m a college student and want a head start on everyone else my age). Any advice on how I can become involved would be greatly appreciated.
Thank you,
Kent
Find other investors to bird dog to! that is my advice after 6 months or so of doing this you should have the capital to do it yourself!
the only thing i learned at college was that you can learn anything by reading a book, and you needs friends who think alike to do well in life.
read A LOT of books on RE and after reading about 100, everything will magically come together and you’ll know what to do and what works for you.
kent,
niravmd is right. There is definately a learning curve. Hang in there. How much cash do you need to assign a contract or do a simo close? Less than you think. Do you have any investors lined up? Can you find a good deal? If not, thats cool. Partner up. It worked for me. Early on, I could find great deals, but I didn’t have any money. Find a partner with money. By the way, finding money to finance deals will always be an issue. Make a plan. Solve your money issue.
-H
initially i couldnt get people to partner with me since i didnt have any experience. i didnt have any experience since i couldnt get any one to partner with[since i didnt have enough money].
finally i started out on pretty small deals and after doing 3 of those, i was suddenly elavated to expert status amongst my friends. now 2
years later i tied up 4 properties and ask 2 other investors if they want to go in 50-50 on it. i’m putting in 1k earnest money. they’re putting in 1k earnest plus their credit. the deal already has 20k equity in it so there’s not a lot of risk to them.
eventually you’ll find investors and people with money who’ll be willing to partner with you. you just need to expand your knowledge AND your network. without a network you’ll never grow. which is why i recommend ‘never eat alone’ as one of my top investment books. [see signature for complete list]
im on the same boat with you, im a senior in college and i need some money to get started. i have one person i can use to partner but he has no knowledge, just money. i dont know if its a smart idea to partner with him. anyway good luck
futuredude,
You have the knowledge he has the money. Sounds like the perfect marriage. Find a Seller.
Make it happen!
Good luck
Ron LeGrande.
I agree with the other poster regarding books. We read about a dozen books from the library so it didn’t cost us a thing. Some of these books tell how you can get the seller to help finance, friends or relatives and if you read my blog below, you will read how we used credit cards for down payments. There are many many creative ways to come up with what you need so read, read, read and become an expert. The more you read, the more comfortable you will feel when it is time to make your deal.