How to start real estate investing with no money ?

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  • Los Angeles · Member since 2018 · 466 posts · 471 votes
    5y

    Ok I'm gonna bust your bubble right now.

    The best way to invest with "no money" is to GET SOME MONEY.

    "How?" I hear you whine. There are a number of ways, but most of them start with getting a job or a better job or a different job. Get an education if needed for a better paying job. Move to a different community if the opportunities are better there.

    Once a paying job has been secured, start saving your money like crazy. "The Richest Man in Babylon" advises you squirrel away 10% of your gross income, no matter how little or how much you make.

    While you're working on being gainfully employed, EDUCATE YOURSELF in Real Estate Investment There are plenty of educational resources right here on BiggerPockets (BP), most of which are FREE.

    Now, I know there are "gurus" who purport to be able to "teach" you how to invest in real estate with no money. You may have seen their Facebook ads, Radio ads, TV ads, etc. Some of those "gurus" are scam artists, and many of them charge enough money for their "lessons" that you could just as well put that money into an investment.

    There are even BP subscribers who will tell you it's possible to invest with No Money, and they'll have tales to tell. Some of them may chime in on this thread later. OK, I admit, it is possible. But it's a heck of a lot easier with money.

    So get a job. If you're that serious about it, get a job as a Real Estate Agent (requires taking classes in most areas and passing an exam). That way you'll not only learn the Ins and Outs of the business, you'll be two steps closer to the Best Deals.

    Are you handy with tools? Get a job working for a contractor. This will also get you two steps closer to the Best Deals, as you'll know which properties are in need of a fix-up, and you'll be able to fix them up. Get good at that, and maybe you can partner with somebody who has the money while you do the work.

    But that's basically it in a nutshell. Don't give up, but don't expect the Good Fairy to tap you on the head with her magic wand. You have to put in the work.

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