Brand New to Investing, Seeking Advice

[Jake Abbatacola]

Hi,

I’ll try to be as specific as possible, but I’m seeking advice on how to get started and what first steps I should take. I’ve recently made the commitment to get into investing in rental properties. So far, I’ve been working at soaking up info and finding valuable resources. The major hurdle I have is no money to put down on an initial property. Was anyone else in this same position when they decided to get into investing? Is the best strategy to find a way to save/acquire a sum to put down in a few years? What other practical things should I be doing now?

Any info is much appreciated.

[Patrick Pierre]

Yes as @Marlen Weber mentioned you have the right mindset by soaking up information. Continue to do so. As far as the no money issue, I'm pretty sure most successful investors started out with no money. I'm also sure the successful ones also didn't let not having money stop them. Until you can get creative, just continue to save and learn. 

And don't feel like you have to rush to get a property. There will always be deals. Your job now will be to figure out which are the good deals. And hopefully, by the time you figure that out, you would have saved a nice decent down payment for a traditional loan or the more popular with new investors, FHA loan.