{"id":120333,"date":"2019-12-11T05:00:00","date_gmt":"2019-12-11T12:00:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=120333"},"modified":"2021-03-16T14:57:28","modified_gmt":"2021-03-16T20:57:28","slug":"best-way-get-started-real-estate-investing-no-money-experience-network","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/best-way-get-started-real-estate-investing-no-money-experience-network","title":{"rendered":"The No. 1 Way to Get Started in Real Estate With No Money, Experience, or Network"},"content":{"rendered":"<p>In the video below, I ask investor Thach Nguyen h<span class=\"s1\">ow a newbie can start investing in real estate with little money, little experience, and no network.<\/span><\/p>\n<p>Here&#8217;s the advice he would give to a newbie.<\/p>\n<h2>How to Get Started in REI With Little Money or Experience<\/h2>\n<p>Thach is a top investor. In this video, we&#8217;re standing in front of his latest investment\u2014a $1.5 million project consisting of three new builds. But I wanted to know what he would suggest to someone on the opposite end of the investing spectrum.<\/p>\n<p>I asked him: &#8220;If you&#8217;re brand new and just starting out, you don&#8217;t have that kind of capital lying around\u2014or relationships even\u2014to be able to buy this type of project, what advice can you give to newer investors? What would you recommend in order to generate capital or to be able to find money to buy deals?&#8221;<\/p>\n<p>Here&#8217;s what he said.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/EkxopXmAaf8\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><strong><em>Related: <\/em><\/strong><em><a href=\"https:\/\/www.biggerpockets.com\/blog\/start-thinking-like-big-time-real-estate-investor\" target=\"_blank\" rel=\"noopener noreferrer\">How to Start Thinking Like a Big-Time Real Estate Investor<\/a><\/em><\/p>\n<blockquote><p>If you&#8217;re brand new in the game\u2014you haven&#8217;t done a <a href=\"\/renewsblog\/2014\/01\/07\/flipping-houses\/\" target=\"_blank\" rel=\"noopener noreferrer\">flip<\/a>, you don&#8217;t have any capital, you have no relationships\u2014I would say go master being a <a href=\"https:\/\/www.biggerpockets.com\/blog\/ultimate-beginners-guide-real-estate-wholesaling\" target=\"_blank\" rel=\"noopener noreferrer\">wholesaler<\/a>. But not just any wholesaler\u2014learn how to master finding the right deal, how to <a href=\"https:\/\/www.biggerpockets.com\/blog\/real-estate-investment-analysis\" target=\"_blank\" rel=\"noopener noreferrer\">identify what a good deal is to the investor<\/a> or to a builder, and then you&#8217;ll find those good deals. And then wholesale, and stack your money.<\/p>\n<p>And when you stack your money, you do enough of it, and you get that experience, then I think the next hurdle is start fixing and flipping or fixing and holding single family. So, you&#8217;ll get more experience, create more relationships.<\/p>\n<p>Because, you know, getting a team to build something this big (like my latest investment), you need a lot of people. Once you get that, then you work your way up. To go from not doing anything straight to here may be a little tough. But if you do it right, you can get here in probably a year.<\/p><\/blockquote>\n<p>I think this is accurate. It&#8217;s all about doing it right.<\/p>\n<p>About a year would mean saving your money, building a relationships, having the right people, hanging out with the right people. Who you hang around is so important. It&#8217;s not just for the effect mentally, but who you&#8217;re hanging around could also mean people who have money you can borrow and who you can do deals with.<\/p>\n<p><strong><em>Related: <\/em><\/strong><em><a href=\"https:\/\/www.biggerpockets.com\/blog\/best-real-estate-strategy-new-investors\" target=\"_blank\" rel=\"noopener noreferrer\">The Single Best Strategy for New Investors<\/a><\/em><\/p>\n<p>And so, for those of you guys starting out, remember that message: It&#8217;s easy to start as a wholesaler. You learn <em>so<\/em> much as a wholesaler, because you&#8217;ve got to learn how to comp those properties, learn what ARV is, learn the construction side. And you&#8217;ve got to meet the other investors who are going to buy those projects from you.<\/p>\n<p>Then, the key is: how do you get out of that as fast as possible?<\/p>\n<p>Thach chimes in:<\/p>\n<blockquote><p>And that&#8217;s the key. Don&#8217;t make <em>that<\/em> the end game. Make <em>this<\/em> (investing in the $1.5M project) the end game. Make your lifestyle the end game.<\/p><\/blockquote>\n<p>And another key: save your money. I know so many house flippers that make a ton of money, and they&#8217;re broke because they spend as much as they make. Thach says it&#8217;s the same with builders. Money now often leads to instant gratification.<\/p>\n<blockquote><p>People, they don&#8217;t want to delay instant gratification. That&#8217;s the hardest thing\u2014playing the long game.<\/p><\/blockquote>\n<p>So, I guess that would be a third point is play the long game in this. Think 10 or 15 years out; start thinking that way as soon as possible. Your future self will thank you. That person&#8217;s going to want some extra cash.<\/p>\n<p>Thach adds:<\/p>\n<blockquote><p>And if you&#8217;re young, get inspired and follow this message, folks. Because you&#8217;re going to blink and 20 years are going to go by.<\/p><\/blockquote>\n<p><a href=\"https:\/\/www.youtube.com\/user\/BiggerPockets\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-114268\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/08\/6.jpg\" alt=\"ad-youtube-channel\" width=\"706\" height=\"125\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/08\/6.jpg 706w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/08\/6-300x53.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/08\/6-702x125.jpg 702w\" sizes=\"auto, (max-width: 706px) 100vw, 706px\" \/><\/a><\/p>\n<p><em>Did you get something out of this post and\/or video?\u00a0<\/em><\/p>\n<p><strong>Subscribe to our YouTube channel, &#8220;like&#8221; the video, and comment below.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this short vlog, I interview real estate veteran Thach Nguyen, whose latest investment is a $1.5 million new construction project. I wanted to know what he&#8217;d tell someone on the opposite end of the spectrum. I asked, for newer investors\u2014those without capital or established relationships\u2014what advice would he give?<\/p>\n","protected":false},"author":11405,"featured_media":119849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5524],"tags":[],"class_list":["post-120333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-investing-for-beginners"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/120333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/11405"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=120333"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/120333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/119849"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=120333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=120333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=120333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}