I'm hoping to make money by investing in real estate, but I can't afford to invest thousands. Do you know of any methods of investing that require no more than a few hundred dollars, virtually no risk,
and no personal liability? Where can I find out all I need to know about the market in order to use these methods?
If it was that easy, (No money required, no risk) we'd all be bazillionaires. You have to have *something* to put into it. Money, equity in your home, decent credit, etc.
Join a real estate investment club.
do a google search on 'real estate investment club'
I posted a link to a directory of clubs on this board, do a search.
Look into finding properties well under value where you can work out a lease option or take over the mortgage subject to (Sub2) its existing financing.
My partner and I see such properties every single day and besides an inspection, title search, and possible appraisal, that would be the only money that we would have out of pocket.
Once you have control of the property, find a tenant/buyer. Get 3-7% or so of option consideration money and charge a premium for rent. Sell the property one year later at a good price for your tenant but where you will make money as well.
I recommend looking at Claude Diamond, John Cash Locke, and William Tingle as inspiration.
Start working with investors in your area. Birddogging can pay off big time and you will gain valuable knowledge and cash. Once you have teh cash, then you can purchase your first deal. If you have no money know and try to buy a property, then you will really have problems.
michael has good advise. before I investe out of state i built a very strong trust worhty team...Network is everything.
There will always be risk of some sort when investing in real estate, that's just part of the business. I would recommend you take some time to look into "short sales". There is alot of information available on the subject and if properly executed, can be a very powerful strategy.
I started out wholesaling houses to investors who want equity positions (NO CASH OUT)....I simply created my starting funds doing these deals....I must say it was hard at first with plenty of properties but no buyers, now it is vice versa.....these days, you have to watch out for those properties that are not truely discounted...best of luck! :beer: