Where to start, need advice

I started getting interested in REI about 6 months ago and I saw it as a very viable way to improve my financial situation and create security. I’ve read a ton and feel like I have paralysis by analysis. I got into lease purchase but I feel like its very hard work. I’ve haven’t closed my first deal and I’ve been at it for 4 months! What is the best way to just jump in?? I’ve heard wholesaling, flips, reo buys and holds, rentals and on and on. The issue is I have no money to use to get started, no for a downpayment or anything. I feel if I can just make 20 or 30k the doors would open and I could buy a rental or do a flip. I just want to get my feet wet and I feel like I haven’t. If anyone can offer some advice I’d be grateful for it. I’m not looking for a guru or some class I need to spend money on, I’ve already put enough money into this and haven’t gotten anything out. Thank you in advance!

Real estate investing is hard work. If you are looking for easy, this probably isn’t the business for you. 4 months and no deal? You’re running about normal. That really isn’t a long time at all. Stick with it and give yourself a chance to succeed. Lease options are a smart way to get started, but you have to give yourself some time. If you abandon what you’ve already learned and been doing, you’ve thrown away those 4 months and now you’re going to be starting over again.

With no money, rentals or flips won’t be an option. If you get a little money for a down payment to buy a flip or rental, realize you’ll probably go over your budget fixing it up and need even more money. I can’t speak to lease options like AJ can, but if you’re doing anything besides bird dogging, wholesaling, or stuff like that you’ve gotta fix the money situation first.

How do you become a property investor when you don’t have savings set aside?
Real estate investing without cash means that you need to take it slow and steady to build equity. The worst thing you can do is overextend yourself and trash your credit even further.

I would recommend looking into buying a property on a land contract. Because mortgage rates are so low, this is not always the cheaper option but it keeps you from going to get a bank loan. In a land contract, the owner plays the role of the bank but he will charge you a rate higher than the bank, especially if your credit is poor. You put a little money down, let’s say $1,000 - $5,000, then you make monthly payments to the property owner for generally a period of 3 to 5 years. At the end of the payment period, you have to pay the remaining amount in one lump sum. That is when you get a loan. By then, you have equity and hopefully a higher credit rating. Meanwhile, you rent out the property for at least what you are paying.

Aj is totally on it… most people who start in real estate is because they believe some guru telling them it is easy, when in reality it takes a lot of hard work… If you still think you are going to be a millionaire in no time, i would suggest to reconsider real estate.
It took me a whole year and a lot of work to strike on my first wholesale deal… I’m not saying it should take you 1 year, but it is going to take a lot of work and time… keep at it and you’ll take on momentum in no time

Get ur feet wet and don’t let anyone tell you because you have no bread right now that you cant make some. Make some super cheap sings or buy some. Get some buyers and find out where it is that they like to buy real estate. Place your signs and see what happens. Its a numbers game my friend. But you can do it. :cool :beer