Lux Investing

What is the most easiest way to get into real estate investing?

What are some ways to begin in real estate investing with litttle or no money? Can you start in real esate investing with no money?

Public Comments

1. This is not a good time to get into real estate investing..
2. Yes, you can, but if you have never owned real property previously, you need to learn a lot before you get started. You will be dealing with people who do this type of work day in and day out. You will be dealing with Mortgage companies, Title Companies, your County (taxes and deeds), as well as everyday people who might know more than you do. There are forms, contracts, not to mention home inspectors, etc ... If I were just starting out now in real estate, I would do these three things first - 1. Learn how things are done in your part of the world. This includes all of the paperwork involved. 2. Find out how much it really costs! Title companies charge more fees than just about any other business I have ever seen, but they are very good at what they do, you definitely get what you pay for. This is not the area to cut corners. 3. Make sure you don't overlook the best deals. When I started out, I worked the area within 10 miles of my home and missed out on a lot of opportunities. If I had been willing to do a little more driving, I probably could have had an easier time because I would not have been limiting myself geographically.
3. Join a real estate investing club if there is one in your area. The education is priceless. Find a wholesaler...these are mostly the guys that have the "I Buy Houses" ads on the street corners and newspapers. Find a lender who will lend based on Appraised Value rather than on Purchase price. This is not easy to do, but it is possible. You can also work with Hard Money Lenders...steep rates, but often worth it. My first deal was a house from a wholesaler. It appraised for $51,500 and he was selling it for $26,200. (He got it from a bank for $10,000 I later found out). I had a hard money lender loan me all the money and then refinanced one week later (which is not easy but can be done) and cashed out at 80%. The hard money lender arranged everything. In short, I bought a house for $32,000 ($26,200 plus fees and closing costs) with hard money. Refinanced at $42,000. Left closing with approx. $10,000 (42k-32k) and still had almost $10,000 in equity. Not one dime of my own money.
4. Community College.
5. yes, you can start in real estate investing with no money as a real estate birddog, there is a website on it at http://www.real-estate-investor-birddog.com
6. It depends. While you have no money up front, do you have any assets or credit? If yes than I can help you with the whole process. Give me a call (numbers on the website) and ask for Jameson.