Newbie from Long Island NY
Hi my name is Matt Crain, I live on Long Island NY. I work full time as a parts receiver at an auto body shop and I work part time at Home Depot. Lately I've been interested in real estate investing, I already have a 401 k and Roth in place. I met with someone yesterday who said I need at least 130,000 dollars to start, I only have 3,000 saved seems like an impossible feat. Who can save that kind of money? It was a discouraging conversation.
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Hey @Matt Crain from one Long Islander to another. You can certainly start in real estate with less than $130k cash. I'm not sure why that particular number was thrown your way, but it makes little sense. There are countless properties (likely out of market) that cost less than that, so that alone speaks to why the number doesn't make sense.
Beyond that, you can invest using techniques like partnering where you come in with little to no cash of your own. I'd read our Ultimate Beginner's Guide (pointed out above and linked in our LEARN link in our nav bar) for some insight into this and other options available to you.
I'd also recommend listening to our Podcast -- spend a little more time exploring the site and free knowledge available to you. There's lots to learn!