Zero startup capital, month to month income

3 Replies

Hello new world!

My name is Daniel. I am recent to the Nashville area, 24 years old and HUNGRY (in spirit and it’s also close to lunch break). I want to start learning real estate from the ground up, and start this as my initial route of building real wealth. I recently graduated from Centre College in KY and came here to play more music. While music is still very much part of my dream, so is building multiple lanes of income and ultimately gaining financial freedom so I can give back to where I am from and the people who have helped me along the way. I currently have a very good and stable job but my cost of living allows me to make ends meet but nothing further. I cannot our ant money back and when I have my next emergency, there’s no fund for it. I am willing to take calculated risks and practice Faith everyday. Really, I just want to put this out there as a beginning of where I am currently and where I want to go.

Would love to network, meet mentors, work and learn with others as much as possible.

With no capital and my current state of work, any pointers of things to do next?

I am heavily considering taking a commission based roofing contractor (sales) job and putting my two weeks in at my current job while starting my classes to get a real estate license but am unsure if that is a smart or poor move, my dad does not think sales is a good idea, but why not if I’m this driven?

You could get a second job. Learn to spend less than you make. Pay off debts and make that credit report sing.

I know it sounds dull. Your own worst enemy will be the impulsive you that wants to rocket to the moon without figuring out how to make it work. This stuff takes time. And credit.

No idea if you would be good in a commissioned roofing role. One thing you might learn is follow up and follow through. Sales people who are not good at that will never develop much of a business. I suspect the real attraction is you believe you will earn more than in an hourly job.

If it was easy, anyone who was not lazy would be rich.

@John Corey

Thank you so much for your reply!!

You are so right, more potential income is definitely the main driver behind my interest in that commissioned roofing role. My credit is near 800 but I don’t know how to effectively use credit with confidence, I have always just had the money ready to pay on any lines of credit I’ve ever taken out except for my student loans. In terms of cutting expenses, my best moves right now would be a more affordable car on gas, but other than that I’m Frugal MacDougal when it comes to what I spend!

@Daniel Cain , good. You are on track.

At this point in your career, experience is the key. Play to your strengths.

Look for REIA meetings and real estate MeetUp or apartment association meetings in the metro area

Consider buying someone breakfast if your want to score 90 minutes if 1 to 1 time. Way cheaper than paying for mentoring at this point.

If you have some time, offer that to successful investors. No cash. Just a bit of time. So you can learn and keep the spending down.

If commissioned sales works for you, fine. Sale success does not come quickly. You will need training and practice. Or, stick to some other way of earning a living.

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