How you start investing with no money???

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Twana RasoulBusiness Member
Real Estate Agent · San Diego, CA · Member since 2017 · 1k+ posts · 1k+ votes
7y

@Norma E. Vega Sanchez no money is over-hyped and over rated. In my opinion, most of those that have no experience in real estate and want to get in the industry can look at being an agent to start. Money is always needed, even if somehow you find 100% seller financing.

Best of luck

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  • Twana RasoulBusiness Member
    Real Estate Agent · San Diego, CA · Member since 2017 · 1k+ posts · 1k+ votes
    7y

    @Norma E. Vega Sanchez no money is over-hyped and over rated. In my opinion, most of those that have no experience in real estate and want to get in the industry can look at being an agent to start. Money is always needed, even if somehow you find 100% seller financing.

    Best of luck

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  • Frank Patalano
    Rental Property Investor · East Providence, RI · Member since 2018 · 1k+ posts · 1k+ votes
    7y
    Originally posted by @Norma E. Vega Sanchez:

    How I can start investing with no money?

     The three parts to real estate success our time, money, and experience. If you have no money and no experience then you have to use your time to find deals. Be out there hustling and you will eventually find Opportunities.

    4Reply
  • Norma E. Vega Sanchez
    OP
    Rental Property Investor · Neenah, WI · Member since 2019 · 39 posts · 10 votes
    7y

    I'm willing to learn!!! 

    0Reply
  • Norma E. Vega Sanchez
    OP
    Rental Property Investor · Neenah, WI · Member since 2019 · 39 posts · 10 votes
    7y

    Yes, I am a newbie! Thanks Frank Patalano and Twana Rasoul for your advice! I will use my time to find opportunities! 

    0Reply
  • Syed H.
    Developer · NY/NJ/PA · Member since 2018 · 758 posts · 935 votes
    7y

    You can’t. 

    5Reply
  • Michael Carbonare
    Investor · Fort Lauderdale, FL · Member since 2013 · 918 posts · 607 votes
    7y

    @Norma E. Vega Sanchez Like all things in life, having cash makes the path easier.  But that doesn't prevent you from getting creative and using strategies that don't require banks or out of pocket cash.  Take a look at lease options, particularly lease option assignments.  That got me going 25 years ago and I'm still a fan today.

    2Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    7y
    Don't waste your time trying without money. Having no money is a indication you are not able to properly manage your finances. If you want to be successful investing get control of your own financial well being. Put your efforts into living a frugal lifestyle, get educated on finances and invest when you have the cash.
    4Reply
  • Shaun J.
    Long Island NY · Member since 2019 · 133 posts · 104 votes
    7y

    You are always going to need money. All of the GURUS just use that as a "sales-tactic" to get you to fork over thousands of dollars to learn their "magic". So, you see, even then you need money. 

    Some of the "Guru's" will say use Hard Money Lenders and get to fix and flip your way to freedom. BS. Go call a few Hard Money Lenders (HML) and talk to them about all the fees that they don't put on their website and their terms that go along with it. -- You NEED money to even borrow MONEY.

    Even if you are just going to "Wholesale", you will still need money. Let's just say you were ultra frugal, no signs, no flyers, just a website and you are a superstar at SEO and building websites. Guess what? You still need money for webhosting, etc. 

    You will still need money to pay your phone bill to answer your lead calls or call them back. 

    Even if you had a super rich family member or a (private Money Lender), they should charge you something for lending the money to finance your "deal" even if it's 1% 

    I wish the damn gurus would change course and tell you that you "Can" start in this business with very little money (wholesaling) but to outright LIE and say you need no money? That's just wrong. 

    5Reply
  • Tia L.
    Member since 2019 · 29 posts · 13 votes
    7y

    so true Shaun, you do need money...spoken from a wholesaler in the Indy area......

    3Reply
  • Brian G.
    Rental Property Investor · Los Angeles, CA · Member since 2013 · 1k+ posts · 1k+ votes
    7y

    @Norma E. Vega Sanchez start by educating yourself and networking at local REIA meetups.

    1Reply
  • Kyle Haines
    Orlando, FL · Member since 2019 · 7 posts · 4 votes
    7y
    Originally posted by @Shaun J.:

    You are always going to need money. All of the GURUS just use that as a "sales-tactic" to get you to fork over thousands of dollars to learn their "magic". So, you see, even then you need money. 

    Some of the "Guru's" will say use Hard Money Lenders and get to fix and flip your way to freedom. BS. Go call a few Hard Money Lenders (HML) and talk to them about all the fees that they don't put on their website and their terms that go along with it. -- You NEED money to even borrow MONEY.

    Even if you are just going to "Wholesale", you will still need money. Let's just say you were ultra frugal, no signs, no flyers, just a website and you are a superstar at SEO and building websites. Guess what? You still need money for webhosting, etc. 

    You will still need money to pay your phone bill to answer your lead calls or call them back. 

    Even if you had a super rich family member or a (private Money Lender), they should charge you something for lending the money to finance your "deal" even if it's 1% 

    I wish the damn gurus would change course and tell you that you "Can" start in this business with very little money (wholesaling) but to outright LIE and say you need no money? That's just wrong. 

    -------------------------

    Great points Shaun. As a novice looking to finance my first deal, I can attest to this. I think it is often overemphasised when people on both sides ask how to get started with no money, often times they mean exactly what you said; a little/small amount of money they have saved up. Obviously, anyone getting into this should know there are going to be expenses and fees associated with everything. It is just a matter of how you mitigate and minimize them the most to create the most capital/least out of pocket expenses. I know when I am researching that is what I am looking for and what I mean by "getting started with NO money", because I do not have a big 401k/IRA/Pension I can take from to invest in real estate, I do not have the ability to work more at my employer to generate more money, along with a host of other things. Its not a matter of not wanting to do something and get started in the field its a matter of lacking the financial resources to do so. I have been poking around this site and listening to the podcasts, which have pointed me in a few directions to get inspiration to get funding. I just have to find the right deal first.

    But like you said there are also the self proclaimed gurus out that that tout NO MONEY REI!!!!! YOULL BE A MILLIONAIRE!!!! which we all know is not true either. Like you said, if you can fork over hundreds or thousands of dollars to them for the courses/info, how come you couldnt have put that to work for your first deal? lol

    3Reply
  • Norma E. Vega Sanchez
    OP
    Rental Property Investor · Neenah, WI · Member since 2019 · 39 posts · 10 votes
    7y

    Thanks for your comments @Michael Carbonare, @Thomas S., @Shaun J., @Tia L., @Brian G. and @Kyle Haines! and yes... I'm working on getting educated! The more I learn, the more I become passionate! 

    0Reply
  • Norma E. Vega Sanchez
    OP
    Rental Property Investor · Neenah, WI · Member since 2019 · 39 posts · 10 votes
    7y

    Great point @Shaun J.!

    1Reply
  • Ashley Correa
    Member since 2019 · 2 posts · 1 vote
    7y

    I mean I bought my first house with no money down and no money at the table for closing cost. I actually got money back at closing. 

    My first house was bought through FHA first time homebuyers program, i then got the CHENOA down payment program and had the sellers pay all closing costs.

    0Reply
  • Account Closed
    Specialist · San Antonio, TX · Member since 2012 · 865 posts · 351 votes
    7y

    @Ashley Correa buying a house no money down and getting money back at close is very uncommon. Was the money back at close a repair credit and taxes credit from the sellers?

    0Reply
  • Account Closed
    Specialist · San Antonio, TX · Member since 2012 · 865 posts · 351 votes
    7y

    I had one seller pay all of the closing cost and just deed me the house subject , so in theory it was a no money down deal. The real story was I spent thousands in marketing and that lead was part of a lot of money spent. After buying the property I had to spend thousands of dollars doing updates and makes some payments on the underlying loan, before filling the house.

     My first house I ever bought the seller only asked for $500.00 down. I had to pay closing and spent $$$ out of pocket fixing it up and made some payments out of pocket in the mean time.

    Bottom line you will need some money to operate a business.

    0Reply
  • Nathan Williams
    Member since 2019 · 172 posts · 93 votes
    7y

    Definitely echo the sentiments that $0 money investing is much more myth and marketing snake oil than being plausible.

    Closest thing I know to quick easy funding is a 0 fee, 0% credit card balance transfer but not everyone can command 30K plus credit limits and I wouldnt recommend that path unless you are equipped to handle that debt once the promotional APR expires

    0Reply
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