Starting out and feeling frozen

Starting out and feeling frozen

Realtor · Napa, CA · Member since 2018 · 112 posts · 77 votes

Good morning BP,

I have been lurking around the forums and BP for quite some time. I decided to pull the plug and become a Pro member because I am tired of no action in REI. I have listened to 80% of the podcasts, read Brandon's book on investing with little to no money down. I am also halfway done with David's book on long distance investing. I have reached out (through BP) and found a great team (it seems) in Columbus, OH and Houston, TX however I have been hit with the truth. It seems I don't have the capital to invest.

Now I know some of you are like "C'mon, there is always a way" and those are the people I am looking for advice from! I know there are ways to start investing but I don't know how, where, when?! I have around $10k in reserves but that is my whole liquid funds. My brother has some money (around $30k) but isn't looking to be a lender (he wants to make money too, and quick). I live in Napa, CA where the market is too steep for me plus the thought of investing in CA makes me nervous because of how tenant friendly they are here. 

I know there are options. My wife and I make good money so I could knuckle down and pull a David Greene and work my day job (Deputy Sheriff), pick up overtime, and just be frugal and save for the next 6 months to get to around $20-30k then start investing. Or.... Anyone have any opinions or advice for this newbie?

Thank you!  

-Ronnie

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Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
5y

You already have your answer:

My wife and I make good money so I could knuckle down and pull a David Greene and work my day job (Deputy Sheriff), pick up overtime, and just be frugal and save for the next 6 months to get to around $20-30k then start investing.

Check out Toledo, OH for a market with a low barrier to entry. 

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  • Realtor · Napa, CA · Member since 2018 · 112 posts · 77 votes
    5y

    @Mark Plesha thanks! Yeah I’ve decided to keep my eyes open in my home town to see if there are deals I can wholesale while saving up from my day job to get enough capital to be able to start.

  • Realtor · Highland, IN · Member since 2015 · 47 posts · 29 votes
    5y

    Definitely a good idea, and I just read the post about the HELOC, that was the same strategy I employed and used it to buy my first property and I'm ready to take out another one and repeat. Good luck with everything, sir!

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