Where to start? No credit. Limited cash.

Question

Shaun Vembutty · Answer

Mark,

I would be glad to. I live in Sugar Land as well. I've sent you my contact info.

Mark Aaron · Answer

Hey all,

SInce I am very new at trying the RE investing part time due to a full time job(10-15 hrs per week), I really need a mentor. Doesn't even have to be in Houston, although preferred.

If anyone can help me with any potential folks willing to mentor. I am fired up and have a wife who wants to join me doing wholesaling and fix/flips to start.

thanks,

Mark

Curtis Yoder · Answer

@Jonathan Beemer - Continue your day job and build your credit and cash reserves. An easy way to learn and become involved is to become a wholesaler. Many people have tried and few succeed. I think because of the effort involved. I find houses every month on my own and it is not easy.

If you find great real estate investments, I can promise you someone will buy them and allow you to make a few bucks. Don't be greedy and try to get a home run off every house.

Knock doors, talk to owners, see if they will sell. Research the ownership, verify the liens, and offer to a buyer for a couple of grand more than the owner is willing to sell for. This is not easy, if it was every person in the city would be doing it. But the knowledge you will learn by doing this will be invaluable to you in the future. And you will have money in your pocket to begin buying the houses yourself!

Just my two cents... Good luck to you...

Samuel Fowler · Answer

@Jonathan Beemer, congrats on pulling the trigger to break into the RE investing. Not having much credit can really hinder you, even with having the cash on hand. If your credit portfolio is thin i HIGHLY recommend starting to build that. Starting Yesterday! One of the easiest ways is through a secured credit card. 6 months history on a new credit card can boost your scores significantly. Be sure to keep your utilization low and all payments on time. cheers!

Jonathan Beemer · Answer

@Ruth Bayang im willing and able to do any and all of that. thank you!

Ruth Bayang · Answer

What can you do? I'm sure you have some skills that aren't RE specific but are transferrable and valuable like being good at marketing, sales. Are you good on the phone? Are you persistent? Are you willing to door knock?

Where to start? No credit. Limited cash.

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