Different avenues for establishing initial capital

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New to all this and I have a general understanding to the concepts which is the first step.

My biggest hurdle at the moment is generating enough capital to get the ball rolling.

Any suggestions on how to boost capital in a reasonably short amount of time (over the course of a year) besides just saving money from work?

My first thought was to buy a house/duplex and charge rent, put the profit from rent away with money from work, then sell the house for a decent upside.

Factors would include getting a good deal in the first place but as of now, I would still need traditional financing to do so.

Any and all suggestion would be helpful and appreciated.

Thank you in advance!

Raise private capital from investors! Start building relationships with potential investors now. Talk with them about their goals and what they're interested in investing in. Then when the time comes you can either do a hard money loans, JVs, equity investment - whatever makes sense!

A very small percentage of investors get their start by raising private money from friends and family.  If you can do that, that will be your fastest way to get ahead.

If you can’t do that then get the ball rolling by increasing your income and your savings rate.  The ball will roll very slow for the first few years but will pick up momentum quickly. 

Get a second job.  It sucks but you’re young it won’t kill you to work 20 hours on weekends for a couple years.  Sell everything you own that isn’t a necessity.  I sold my truck and motorcycle to purchase my first duplex.  I paid cash and drove a car I paid $1,000 cash for.  If you own a house or rent then get out of that and buy a multi-family dwelling 2-4 units, rent the other units and rent a spare bedroom in your unit to a friend.  I actually moved back in with my parents for a couple years to increase my savings rate, I was fortunate that they were cool with it and that we got along well.

Some people will also flip some single family homes to fuel their income for their bigger multi-family investments , you can do this but I don't recommend it. You would be better off doing the brrrr strategy than flipping.

If you get a second job, eliminate your mortgage/rent, eliminate car payments, keep all other expenses to a minimum, and house hack you can easily get that ball rolling fast and you could have 8-10 doors in a couple years very conservatively. Then your investments start compounding and it's easy to scale from there by trading up with 1031 exchange and refinancing.

People will spend $100/month and wait there entire life trying to win $1M on scratch off tickets to retire broke, but if they would make the sacrifices above for 2-3 years they have the fortune.  They miss out because they depend on luck instead of depending on themselves.

Great advice here. I posted a question regarding pulling equity from currently owned properties for new purchases a few days ago and no feedback..wondering why??? Since I am also new to the community maybe someone can fill me in on what topics are of interest or within the knowledge set of the community so I can direct inquiries to the right resources. Im wondering if its the title as I reread it I think I could have been clearer but there seems to be no obvious way to correct, retract or update posts that I have been able to find. Thank you.

Thank you to everyone for the feedback. I will take into account all of the advice and try to implement in the most constructive manner I can determine.

I also appreciate that by responding, it is getting the post more exposure and therefore more feedback.

Keep building wealth!!! I’m happy to be on the team.