High, I'm 22 and only have fair credit. My dream is to invest in real estate and make money and be financially independent. I know its possible and I'm determined I WILL SUCCEED. I just dont know how yet, I'll try until I find out on my own if I have to but I'd like to cut that time in half. If you were in my position with only $5,000 to use as a downpayment and only fair credit, what steps would you take to make as much money as possible in as little time as possible? I need to make enough money so that I can start acquiring cash flow properties but how can with only $5,000? I know I'm capable but I dont know how to get the information I need to get my start. Im desperate for advice and guidance, I will greatly appreciate anything I can get, thanks!
Real Estate Agent/Investor · Peoria, AZ · Member since 2016 · 2k+ posts · 2k+ votes
6y
I'd house hack and look for down payment assistance. Another method is using subject to or seller financing to acquire additional properties down the line, but you'd want to study up on that and make sure you know what you're doing.
A lot of folks who don't have a lot of working capital start out as wholesalers, so that's another option if you know how to valuate properties and rehab costs and can really communicate well with people.