Broke newbie just looking at the parts

Member since 2020 · 3 posts · 0 votes

As name suggests, I sense I have some of the parts to build (or start) my real estate investment business. The problem is I am not sure where or how to start. I am unclear with myself on what (rental, flipping, etc.). I do not have great credit and have no money to put down. I did see the networking list if companies and investors. How do I get started?

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Abel CurielBusiness Member

Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes

Originally posted by @William Prevost:

Hello William,

With no money and no credit, your biggest asset is TIME.

Use your time wisely to network, read books, educate yourself on RE strategies, educate yourself on your target market(s), and find like-minded people to hold you accountable.

Be intentional with every step you take.

Best of luck to you moving forward!

Abel

REbuild Team - eXp Realty5234 Reviews

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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
6y
Originally posted by @William Prevost:
As name suggests, I sense I have some of the parts to build (or start) my real estate investment business. The problem is I am not sure where or how to start. I am unclear with myself on what (rental, flipping, etc.). I do not have great credit and have no money to put down. I did see the networking list if companies and investors. How do I get started?

Hello William,
With no money and no credit, your biggest asset is TIME.
Use your time wisely to network, read books, educate yourself on RE strategies, educate yourself on your target market(s), and find like-minded people to hold you accountable.
Be intentional with every step you take.
Best of luck to you moving forward!
Abel

REbuild Team - eXp Realty5234 Reviews
Website View Page
1 Reply
Shane Cummings
New to Real Estate · Boynton Beach, FL · Member since 2018 · 59 posts · 31 votes
6y
@William Prevost - I would advise trying to get a hold of your personal finances before attempting to invest in real estate. That could include things like:
- Eliminating Any Consumer Debt
- Saving 3-6 months of expenses into an Emergency Fund
- Building your credit back up
Just my two cents!
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Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
6y
If you consider your knowledge base still as "parts", then you're not ready...regardless of the financial situation. Your financial situation shouldn't stop you. You just need to learn how to use what you do have, and before you do that, you need to take all the parts and build your "whole"...as in a system...and build that system around your current financial situation. Make sure the beginning of that plan includes improving your financial situation.
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Jay Helms
Rental Property Investor · Gulf Breeze, FL · Member since 2014 · 1k+ posts · 733 votes
6y
@William Prevost at the moment you just need to consume ; podcasts, books, virtual conferences (like the W2CapSummit.com) and when the smokes starts to clear focus on one niche. Once you start taking action, it will become more clear.
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William Prevost
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Member since 2020 · 3 posts · 0 votes
6y
@joe villeneuve Elaborate please?
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