I am just starting to learn about investing in Real Estate and I am reading a lot of the articles on this website. I am about to turn 20 and what I am trying to figure out is how to get started without a lot of money to invest? I read the 7 years to 7 figure wealth and there is no way I could get $20,000 dollars considering I am a college student. Are there still ways that I could invest and start building up and eventually have the $20,000 and make a bigger investment? So basically I don't have a lot of money to invest but I really want to get started in real estate, what should I do?
I am new to real estate so I will take any advice that you can give me!
Step 1. Finish your profile. If you want others to take you seriously, then take all of your networking seriously.
Step 2. Join at least one Real Estate investing club. Try meetup.com. Network with others and absorb everything you can. I repeat, be a sponge! Also read all the forums you can. This website is great!
Step 3. Now you can decide your path. Many people start with wholesaling. There are plenty of forums about that, so read up. You can also look for partners at your meetings. If you have credit, you can partner with someone who has money. Partnering does a few things; It gives you the opportunity to bring on somebody with experience, and you can bring on someone with money. Everyone chooses their own path, I started with flipping, but many start with buy and hold, or other methods. Your local market and risk tolerance will determine that.
Step 4. Don't be greedy. Look at what you have to offer your new partner. You might have to take a smaller share of the pie, but the experience is worth it.
Step 5. Work your butt off. Be honest with your partner, and follow through with everything you say you will do and more. People talk, if you do wrong to one fellow investor, you are probably done with partners in that area.
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