Where to Begin with Rentals???

4 Replies

I am a newbie wholesaler that is trying to get that first deal. Due to be being laid off and having no income, I am having a hard time finding a solid niche that will work for me. I am trying to wholesale single-family homes but the market is so competitive that deals are snatched while I'm gathering the numbers. I'm starting to doubt this whole "you can be an investor with no money" nonsense. I want to get a rental property to have some income coming in every month to build capital but I don't know where to begin. BP I need help!!! Any kind of advice is greatly appreciated.

I'm starting to doubt this whole "you can be an investor with no money" nonsense.

You're right to be skeptical.

Buying rentals without steady income is very difficult because its very difficult to get loans without income.

Wholesaling is a commissioned sales JOB where you have to invest a lot of time, money, and effort and then may or may not get a paycheck.  Is that really the best choice of a job given your situation?

I'd recommend getting an RE license. In my opinion it's the only practical way to start making money in the industry without any money.

@Jon Holdman  you are right about the job part. It feels like an all day job that hasn't received any progress. I am switching my mindset about things as well speak.

@James Wise  I was going to get my license through Champions but didn't have the tuition funds so I chose to go this route because I listened to the guru talk about not needing a license, no money down to get started. I am reconsidering it now.

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