Little to no money to invest

9 Replies

Hello all. My name is Nicole and my partners name is Kyle. We are starting out in the real estate business but we have little to no money. My credit is good and his is fair. We are not in a position to borrow money to finance our initial investments, so we need assistance with finding the right private money lenders to assist. I do not want lenders from the forum but I would like someone to point me in the right direction to start the process. Thanks a bunch! 

What is the end goal. Lets start with where you wanna be and make the action plan to get there! 

We started with no capital and grew our business would love to help anyway I can! 

 Nick, 

The end goal is to have several rental properties for residual income. Also, we would like to flip a few properties to build cash on hand. Personally, I am in debt from student loans and would love to be debt and financially free but I need financial leverage to do so. I work full time and am in school so my time is limited, but I would love to have real estate become my full time job and go to school on the side. Let me know!  

Why no lenders from the forum? BP is an excellent resource.

The first question any lender is going to ask you is "What do you have to offer for my investment?" Your answer needs to be something other than "I'm Nicole, he's Kyle, and we want to be investors!" Based on your post, I wouldn't loan you any money, as it all sounds nebulous at best. What homework have you done, and what skills and abilities do you think you have to offer that will make your endeavor successful, and thus worth someone lending you money? 

John, 

It's not that I don't want lenders from the forum but when posting I didn't want to seem as though I was just looking for money. The site made sure I didn't want to plainly ask for funds.  

OK Nicole. BP is a great place to meet and make connections. As my friend @JD Martin said you need to have the capability to make a deal work. That takes at the very minimum an education. You can get experience, and the education can be through BP, books, etc or sometimes the hard way through bad deals. I have done both! Develop your goal...where you want to be, what you want to accomplish. Then develop a plan to get there. You might decide to rehab and flip, you might want to buy and hold, you might want to work for or with a company and gain experience and knowledge through them. There is no right or wrong way as long as it works for you. 

@Nicole Adams you will probably not like my advice but:

If you truly have no time or money hunker down at your job and work like a dog.

If you have no money but a little time stay active on BP, read books and educate yourself

If you have no money but more time educate yourself, attend REI's to start networking and if you still have free time go to a realtor and offer to sweep the floor or whatever he needs as a volunteer to learn the business.

If you have a little money and a little time do NOT spend it on seminars, classes or other "lie to me and make my dream come true" activities.

Best of luck. Keep us posted on how you are doing.

I am a newby myself and 2 great investment books are  "Think and Grow Rich" and "Rich Dad, Poor Dad".  I am reading both and they help get you started thinking about what you really want to accomplish and that, what I've found, is half the battle right there.  Once you are clear on your goal, you take take off and BP has helped with with many "hand holders" here online!.  I am still learning but took the leap and own one investment property now :)  Gayle

Thank you all for your responses and support. I will definitely take all these things into consideration when understanding my goal and investing.  I'll keep you all posted! 

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.