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Dustin Sanders
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Where do I start with no capital?

Dustin Sanders
Posted Feb 29 2024, 17:48

I know this sounds rediculous but I see success in investing but what if I don't have capital right now? Working 11 hrs a day Monday through Friday is my current situation but how to I get the ball actually to start moving towards a deal with no capital? I'd love to hear y'all's experiences! 

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Nicholas L.
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Nicholas L.
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Replied Feb 29 2024, 18:21

You have to to have capital.

Save up enough to house hack - then house hack.

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Theresa Harris
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Theresa Harris
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Replied Feb 29 2024, 18:41

Look at your finances and see how you can spend less and/or earn more.  Track your spending and see where your money is going.  Having a goal is a great way to encourage you to save.

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Replied Feb 29 2024, 19:36
Quote from @Dustin Sanders:

I know this sounds rediculous but I see success in investing but what if I don't have capital right now? Working 11 hrs a day Monday through Friday is my current situation but how to I get the ball actually to start moving towards a deal with no capital? I'd love to hear y'all's experiences! 

You could learn how to find deals for investors and whole sell them.

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Chris Seveney
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Chris Seveney
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Replied Feb 29 2024, 19:50

@Dustin Sanders

You can educate yourself while you continue to. Build capital. First thing would be to determine what you are spending $ on and setting a budget personally. A key aspect of real estate is financial management.

You can also start networking with people in the area you want to invest, and start learning from them. They are plenty of places to start learning and getting up to speed and educated before you invest.

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Scott Mac#5 General Landlording & Rental Properties Contributor
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Replied Mar 1 2024, 00:22

Do you have a rather new large expensive vehicle?

Do you live at home with your parents?

You do not need capital- you need hard cash money in the bank.

Two suggestions:

1) Open a savings account in your own name, start with $20 at a bank that does not have any monthly service charges.

2) Read Rich Dad Poor Dad.

Good Luck!

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Glen Wiley
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Glen Wiley
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Replied Mar 1 2024, 01:50

Capital is really helpful :)

Focus on finding a way to use your current house to make money.

Can you rent out a room?

Can you convert your garage into living space and rent that out?

Can you rent out your basement?

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Alecia Loveless
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Alecia Loveless
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Replied Mar 1 2024, 04:35

@Dustin Sanders It is possible to find owner financed deals and you MIGHT be able to even find some that require no money down. I do read testimonials of people who say they have gotten some that way. You will still have expenses and likely will need reserve funds to cover yourself. It’s just too risky to not have some.

I think learning as much as you can now going forward until you are able to get into a house hack or your first investment property if you don’t want to house hack is your best bet.

It sounds like you’re working long hours already and eventually you’ll burn out or reach a point where you don’t want to continue that hard path and you’ll probably want to work less hours which is why a lot of us get into real estate in the first place, to take back our time.

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Corby Goade
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Corby Goade
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Replied Mar 1 2024, 04:39

Some really good advice above. Look at your expenses- if you have a car payment, credit card payment, etc, get rid of those. I know that sounds simplistic, but if you want to be a successful person you just do the hard things. Drive a crappy car. Get a second job. Quit your job and get a better one. 

It's easy to fall in to the trap that everyone else has better resources or opportunity, but that's simply not true. 

Save up a few bucks and house hack. Buy a home- ideally a duplex or triplex, the more units the better. Use a 5% down conventional loan. Repeat that process every year or two. 

I'm making it sound easy, right? It is that easy, either you just do it or you choose not to. It really is that simple. 

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Nathan Gesner
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Nathan Gesner
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ModeratorReplied Mar 1 2024, 05:32

Don't listen to the YouTube "experts" that say you can build wealth without any money. We have thousands of years of sound, practical advice that has proven to work. Increase your income, reduce your expenses, save consistently until you build up enough to invest. That's the proven path to success. It takes sacrifice, consistency, and time.

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Glen Wiley
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Glen Wiley
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Replied Mar 1 2024, 05:53
Quote from @Nathan Gesner:

Don't listen to the YouTube "experts" that say you can build wealth without any money. We have thousands of years of sound, practical advice that has proven to work. Increase your income, reduce your expenses, save consistently until you build up enough to invest. That's the proven path to success. It takes sacrifice, consistency, and time.


Such hard truth....

I have seen many people discouraged because they can't scale as quickly as they think everyone else does or they think others had it easy. They look at a snapshot of success and don't realize the years of brutal hard work it took to get there.

I have spent SO MANY nights and weekends getting off my day job and racing to a rehab site. For years I would go months with no free nights, no free weekends.

Now, with a rocking portfolio, I don't regret the absolutely brutal effort I put in to get here.

It can be very hard, but it is very worth it.

Don't get discouraged, tighten your belt, put your shoulders to it and push, you will find a way - you will not be sorry.

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Khalid Bryan
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Khalid Bryan
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Replied Mar 1 2024, 07:55

@Dustin Sanders I would suggest getting a real estate license and doing deals for other people. It's not easy it's not fast, but the checks are huge and if you're serious about doing this strictly to becoming an investor, I would go all hands on deck making all your commission checks go towards your goal using it all to be up your credit, save and put into an income property. If you purchase a property from the MLS as a licensed realtor, you can still get your commission it which ca. be like a discount.

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Replied Mar 1 2024, 08:03

Probably not a sexy reply, but tightened the belt lace up the boots and get to work. Cut expenses to the bone. Work more hours whether at regular job or get a second job. Add another 20 hours a week working and save every penny. Cut cable, Starbucks and door dash out. Meal prep easy meals and get after it. That’s my recommendation. Not a YouTube sensation but if you bring in more money than you spend eventually you will have down payment money. Instead of going out with the boys on Friday night grab a six pack some burger and for 20$ you can have a great night. It’s not easy but you can do this

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Conner Bryant
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Conner Bryant
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Replied Mar 1 2024, 09:39

@Nicholas L. wrong my good man.

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Conner Bryant
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Conner Bryant
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Replied Mar 1 2024, 09:40

@Dustin Sanders Learn wholesaling sir. No money required except a little for marketing.

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Conner Bryant
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Conner Bryant
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Replied Mar 1 2024, 09:40

@Dustin Sanders Wholesaling!

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Nicholas L.
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Nicholas L.
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Replied Mar 1 2024, 09:47

@Conner Bryant

i don't think we're disagreeing... it definitely takes money to buy a property.  

you're saying he could wholesale to generate capital.

both can be true