I have decided that I want to get into real estate. Buy and hold makes the most sense to me. And if I brrrr correctly I should be able to build a nice portfolio. Then move into commercial. The only problem is I don't have any capital to get started. I'm considering learning to wholesale to get enough cash for a down payment/repairs. I also realize I could try to find a partner with money. However since I'm brand new and have lots to learn that can only be learned by experience. I don't think very many people would want to risk their money on me. I wouldn't want to if I was in their shoes. Then there's creative financing. However I feel like going the creative route would 1, require waaay more work than I would want to do, and 2 require skills of a salesman far greater than myself.
I was just wondering what someone with experience thought about building capital. Is there any ways I don't know about?
The only real way to build capital is to build capital. Work for the money that will become your investing nest egg. If your job doesn't pay enough to sock away, see what else you can do or other income streams. But, in general, it's silly to think there is another way to build capital then to do it. You said yourself, why would someone partner with you right now? You don't have capital, experience or connections so you have to work to make all of those by going to local REI meetups on and offline and let time play a role. You can't rush capital or you end up paying 20 pct for it.
Start wholesaling and SAVE my friend. If credit is good then you should be able to get around 80% of purchase and the rehab costs covered for your first flip. Focus on finding home owners, find houses that are deals. Start connecting with cash buyers. Be the middle man for a little while and raise those funds!
Become a realtor and save your money. Probably the easiest path. I didn't take the easy path and sure wish I had.
@Bill William I have considered becoming a realtor before. You say it's the easiest way? Can you give a little more insight as to why?
My realtor and I are close and talk often, they get deals before they are on mls, forge relationships with other realtors, and of course get a check at the end of close for properties they buy.
its an easy way to get started unless you're able to make money elsewhere like I did.
i owned a manufacturing business then stock market, long hard road that was.