Investor starting from scratch with no money

[Rene Martinez]

Hey guys. I'm an 18 year old kid with a day dreaming motivation to one day become a successful real estate investor. One huge question i have is how to actually get started. Would you guys recommend me to take out a loan and start from there? Please any advice from any of you will be highly appreciated.

[Elizabeth Colegrove]

Welcome to Biggerpockets!

Your first course is to make sure you have the loans and income. Our model is buy and hold real estate through pure rentals, personals turned rentals all being class A properties so smaller margin but lower expenses. We got started through personal properties. We bought our first property using a VA loan and than gutted it. We rented it out when we left. Getting started in personal properties allowed us to get started with very little down.

I know a lot military members who rent out their rooms to other members basically paying their way. So if you do decide to go single family that is a great option. Just make sure you can rent you house out when you move on if you want to get into buy and holds!

Check out the Blogs, Podcasts and forums. Biggerpockets community is truly awesome through their diversity (buy and hold, wholesalers, bird dogs, commerce, developers, flippers, agents, etc). Another unique resource is peoples personal blogs/websites that can be found in the signature. Within the above "groups" everyone has create their own niches. Many of us have create a website/blog giving more information about our model, etc.

Therefore I REALLY recommend you checking out people who you like's signature. This will teach you a lot more about "business plan" and "niche". It's also great for a "researcher" like yourself who wants to look around before he asks questions.

Look forward to seeing you around Biggerpockets!