Beginner With Lots Of Questions
I was fortunate enough to stumble upon this site while researching real estate investing. My biggest question is how do people get started without using their own money? Is this method a myth or fact? I am currently in the military and I am looking to improve my income for myself and my new family. This has always been an interest of mine and I was wondering if anyone can point me in the right starting direction. Thanks!!!
Cadeezy,
Welcome! First a little reality check. You may be able to get started without your own money, but you will need to use someone's money. That may mean you buy a house where the owner is willing to carry the entire loan, or you find a house for a great deal and another investor is willing to loan you the money for a percentage of the profit or interest, or you use a lease option and line up a renter where the rent will cover the cost of ownership, etc.
There are plenty of investors here who avoid using any of their own money simply because they don't have enough cash to handle all of the deals they have going. Still, if you have some money, it does help.
HTH,
Robert
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robertt, thanks for the info! I do have a question about lease options. Where can I find more information about this topic? I'm not too familiar with this option and it sounds very interesting.
I just happen to stumple on this site myself tonight as i was looking up realestate stuff on the net have been interested for a while but skeptical at the same time. I would like to find out as well how to get started with someone else's money. I have been looking into foreclosures at my local court house is this a good place to start or not? any help would be much appreciated.
Thanks.
Cadeezy,
There is a forum here for lease options. If you want more info on this area, spend some time in that forum too.
Robert
Thanks for the info on wholesaling. Again, I am very glad I stumbled on this site! Thanks
Jeff, I think that's a great way to start and I am personally planning on getting started that route. I think it's the "easiest" route because you have buyers waiting for you and your sellers are usually desperate to get out.
Lease-options also fascinate me but to start out, I would definitely take Jeff's advice.
Do you belong to a Real Estate Investing Club of any sort? If so - Great way to find real investors...
If not, go join one! Its the best source of investors, In my opinion...
The ads should work - but you need to find the one's that do the rehab/buy themselves, not another bird dog such as yourself... PM me if you need a place to find local RE clubs...
Good Luck!
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OK How do I find RE clubs?
You can try searching google with your city and state. You can also find some groups through this website.
Finding investors is not as difficult as it may seem!
An investor is any one who has money!
You can find investors by going to foreclosure sales and network with them.
You can contact Doctors & Lawyers in your community and network with them.
Research recently purchased HUD properties and you can find investors their.
Look in the for rent section of the newspaper and contact landlords to see if they are interested in buying more property.
The sky is the limit on this one.
Ask and you shale receive!