how do i start investing in real estate with absolutely no money?
Posted by admin in Finance Friday, 4 November 2011 10:00 5 Comments
i am doing my final year at university and work part-time at a property development firm.my long term goal is to own something similar.i am passionate about real estate and would love to start with investing but i have absolutely no money.how to i start,what can i do?i read tonnes of books and articles but i would love to have something tangible to add.
please advice me,all advice is welcome,except negativity!
It is next to impossible to buy real estate if you have no money for a down payment. Many people sell books that claim they can teach you to do this, but they recommend impractical methods. Read this web site for a discussion of the problems involved with trying to buy real estate with no money down.
Save money
you have to have money, sorry. you can’t own something unless you pay someone for it. maybe you’ll inherit a house or some money and you can start with that.
We have bought property with no money down and we have bought property where we have been paid to take the properties. There are deals out there, but they are hard to find, and you need connections. We have been in real estate for 25 years and have the networks. With you just starting out, it is not impossible, but very unlikely that you can find nothing down deals. There are a lot of real estate gurus who will tell you that they can show you how to buy property with nothing down, but these gurus are just trying to sell their courses. You need to find a mentor and you need to gain experience. I know that’s not what you wanted to hear
Been There Done That has a great answer for you about getting a mentor. Would also suggest contacting a local real estate investment club or association and attending the monthly meetings. Network with professionals in the field of the type of property you wish to invest in.