BiggerPockets

...by working very hard at your job (or taking a second or third job). There are 168 hours in a week, which is more than enough time to work two full time jobs and still have time to sleep. Do that for a while and you WILL have some money and be in a position to actually succeed.

Good Luck,

Mike

Thanks That What I Thought! LOL
Well I Have A Lot Of Work To Do.
The Thing Is I'm In Movie Making, I Shape Light
And Dolly Grip! So I Make Good Money To Save,

It does take money to invest in RE, especially today, but it does not mean it has to be your money!
I started out and had over 10 properties before I ever spent one dime of my own money into a deal so it can be done.

Is it easy? No way. If you work hard to develo the contacts and resoiurces, you can, but having money certainly does help.

Do some research on wholesaling and taking over properties using "subject 2's". Once you learn a bit how to do it right feel free to pm me and we can talk about ways to start without using your own money.

A safety net is nice, but I recommend using Private Money and funding your deals 100%. Then find great deals, not good ones, great deals. Deals with multiple exit strategies with plenty of equity and cash flow. I can send you a free guide on raising private money, if interested drop me an email.

I would look into real estate wholesaling, sub-to's, or lease options.

There are 3 main leverage points that you can utilize in real estate:

Money
Credit
Relationships

In your case, money is an issue so, establishing relationships and becoming a middleman using wholesaling or lease options would be the way I suggest you go....

Easy, NO! Doable, Absolutely.

Good luck
Eric Medemar

Hey Lawrence,
I'm in the business too (1st AD) and if you work IA you should have enough to buy a distress property in lets say, OH, AL, MO, etc. All you need is $5,000-10,000. You are a grip, so I take you sort of a handy man too. In your down time, you fix it up. Rent it out. After a year you can refinance it, get some money out and keep going.
By the way, if you buy in Detroit, you can also work in the business there while working on a property since the business is booming there. They are going to build two movie studios on the ground of some old Pontiac plants.

Good luck,

Originally posted by Ryan Moeller

I can send you a free guide on raising private money, if interested drop me an email.

Ryan,
can you please send it to me at email address in my sig below?
Thanks!

Originally posted by Paul Beauchemin

There's always family loans. Try to find someone who's not getting a good return on their IRA and convince them to convert it to a self-directed IRA.

You should read up on the IRS guidelines regarding "disqualified parties" as they relate to self directed IRA's. You can not loan to or borrow from any disqualified party which includes, but not limited to, parents, children, grandparents, grandchildren, spouses, your CPA or attorney, and more.
Borrowing from self directed IRA owners is certainly a wonderful strategy, but they must be non disqualified parties.

I'd be interested in hearing more about your experiences Will.

Ask away Blake. Happy to share. SPend a few minutes on my website and read my blog both here on BP and on my website. There is tons of info on each as well as some of my experiences.
PS. I am with you on the wierd people! I love to party, but going to Hollywood always creeps me out.

To say you need your own money is 100% BS.

Several people already posted they started with none and I was the same.

I had no $$ - in fact was hundreds of thousands in debt - no job - unemployment was over for months before my first deal and on and on (more pity story and tears).

I partnered with people. I used their money - their credit and my knowledge and know how.

Looking back did I have a clue what I was doing? Heck no - but I made it work - I made them whole.

Now - is it easier on your own with $$ and great credit - yes - but is it impossible to start with no $$ NO.

You can even assign deals - there is a lot you can do.

You can take a second job or you can work this one...both ave's will work