From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.


General Info

BiggerPockets Q&A, Site Questions, & Announcements

1514 topics, 14412 posts — Last Post 04/24/14, 05:53PM

BiggerPockets Exclusive PRO Area

117 topics, 841 posts — Last Post 04/23/14, 08:28AM

New Member Introductions

11000 topics, 86710 posts — Last Post 04/24/14, 09:56PM

Real Estate Success Stories

400 topics, 6221 posts — Last Post 04/24/14, 05:13PM

General Real Estate

General Real Estate

Buying & Selling Real Estate

6008 topics, 47315 posts — Last Post 04/24/14, 10:18PM


651 topics, 5873 posts — Last Post 04/24/14, 03:20PM

Get Foreclosure Help - Help Stop Foreclosure Forum

317 topics, 2561 posts — Last Post 04/23/14, 08:28PM

Home Owner Association (HOA) Issues & Problems Forum

238 topics, 1611 posts — Last Post 04/23/14, 04:02AM

Do it Yourself

660 topics, 6334 posts — Last Post 04/24/14, 08:31PM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3718 topics, 29817 posts — Last Post 04/24/14, 09:08PM

Real Estate Guru, Book & Course Reviews and Discussions

1140 topics, 11616 posts — Last Post 04/24/14, 08:58PM

Ask About A Real Estate Company

743 topics, 7348 posts — Last Post 04/24/14, 03:12PM

Real Estate Investing

Real Estate Strategies


5647 topics, 44019 posts — Last Post 04/24/14, 10:14PM

Rehabbing and House Flipping

3354 topics, 31121 posts — Last Post 04/24/14, 08:41PM

Real Estate Development & New Home Construction

554 topics, 4696 posts — Last Post 04/24/14, 09:03PM

Innovative Strategies

705 topics, 6044 posts — Last Post 04/22/14, 04:06PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

869 topics, 6706 posts — Last Post 04/24/14, 08:29PM

Rent to Own a.k.a. Lease Purchase, Lease Options

700 topics, 4961 posts — Last Post 04/24/14, 11:26AM

1031 Exchanges

143 topics, 1063 posts — Last Post 04/24/14, 11:10AM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1693 topics, 11322 posts — Last Post 04/24/14, 10:10PM

HUD, VA, and Tax Sales

416 topics, 3103 posts — Last Post 04/23/14, 02:29PM


1217 topics, 10604 posts — Last Post 04/24/14, 07:13AM

Short Sales

1539 topics, 13154 posts — Last Post 04/23/14, 08:25PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7260 topics, 71291 posts — Last Post 04/24/14, 09:37PM

Mobile Homes & Mobile Home Park Investing

639 topics, 5146 posts — Last Post 04/24/14, 05:13AM

Investor Basics

Starting Out

7739 topics, 60737 posts — Last Post 04/24/14, 09:18PM

Investor Psychology

434 topics, 6132 posts — Last Post 04/24/14, 09:03PM

General Real Estate Investing

4733 topics, 37341 posts — Last Post 04/24/14, 09:51PM

Real Estate Investor Marketing

1740 topics, 14165 posts — Last Post 04/24/14, 05:08PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1414 topics, 9022 posts — Last Post 04/24/14, 04:12PM

Multi-Family and Apartment Investing

1125 topics, 9421 posts — Last Post 04/24/14, 10:04PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

645 topics, 4913 posts — Last Post 04/24/14, 12:21PM

Business Basics

Goals, Business Plans & Entities

836 topics, 7599 posts — Last Post 04/24/14, 08:45PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2806 topics, 20152 posts — Last Post 04/24/14, 08:36PM

Property Insurance

312 topics, 2059 posts — Last Post 04/24/14, 10:22AM

Personal Finance Discussion

330 topics, 2754 posts — Last Post 04/22/14, 12:06PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2854 topics, 19852 posts — Last Post 04/24/14, 09:30PM

Creative Real Estate Financing

1222 topics, 8875 posts — Last Post 04/24/14, 10:28PM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1219 topics, 8057 posts — Last Post 04/24/14, 10:08PM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1931 posts — Last Post 04/23/14, 09:04PM


268 topics, 1689 posts — Last Post 04/24/14, 05:05PM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

2023 topics, 11777 posts — Last Post 04/24/14, 09:52PM

Americans & International Real Estate

162 topics, 572 posts — Last Post 04/24/14, 03:31AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

66 topics, 442 posts — Last Post 04/24/14, 09:50PM


Real Estate Marketplace

Real Estate Marketplace

15102 topics, 54176 posts — Last Post 04/24/14, 10:05PM

Real Estate Events and Happenings

169 topics, 2629 posts — Last Post 04/24/14, 10:28PM


Off Topic


2909 topics, 32451 posts — Last Post 04/24/14, 07:22PM

Housing News & Real Estate Market

923 topics, 8398 posts — Last Post 04/24/14, 09:05PM

BiggerPockets Real Estate Investing Summit

97 topics, 1752 posts — Last Post 04/23/14, 04:51AM

BiggerPockets Resources

Forums » Rehabbing and House Flipping » How to get started with very little money.

How to get started with very little money.

21 posts by 12 users


Real Estate Investor · Ivor, Virginia

1. Be willing to work and sacrifice comfort if necessary.
2. It is not that hard to find "livable" houses right now for 10 or 15K. Even less.
3. If you are short on money then move in the house yourself while it is being fixed up. Many houses are really just dirty and need new carpet and paint.
4. Then sell or rent out the house and you are on your way for less than the cost of a new car.

Can't find deals like that? Look harder. I even have one posted on this site and there are many others. SEE NUMBER 1

Real Estate Investor · Garland, Texas

Stanley, when I saw the title of your thread, I thought you were going to say wholesaling.

You are right in your approach. This is a good way for a person without a family to go. Or even some couples. if they are on the same page.

A similar way is to get an FHA mortgage on that starter property. Low down and low interest. Some credit needed.

Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545

Rehabber · Lexington, Kentucky

Thank you for posting this @Stanley Crawford...unfortunately, that much work/sacrifice doesn’t appeal to a lot of people.

Small_kvJames Vermillion, K&V Investing
E-Mail: [email protected]
Telephone: 859-684-2511
Invested in the Bluegrass!

Real Estate Investor · Ivor, Virginia

James you are right of course. I am just trying to point out it can be done for a lot less than the price of a car.

NOTE: I myself to not move into rehabs myself but I do camp out in them for a week at a time.

Rehabber · Santa Clarita, California

That is some solid advice for those who are willing to put in the work and make the sacrafices of moving from place to place. You would also have to be in an area where homs sell for less than the price of cars and that is not in all parts of the country, so if you live in a place like Los Angeles, then you better find a new path or move.

Small_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]

SFR Investor · Texas

Good advice. Unfortunately, most will read you title and think (as I did) very little money is equal to about 500 bucks. Anybody with 10-15K has several entry options. I might argue that Jon K. points out a better alternative for overall value and long term gain for someone with limited time and money looking to invest who also has the wherewithall (JOB) to save 10-15K.

That being said, my first (and so far only) investment deal was 12K cash and rehabbed with another 12K in consumer credit. Its renting for 550/month, so not a bad start. But, in the long run, the house I pay a mortgage on and live in will likely create more value for me once I move and convert it into an investment property.

It took me two years to save up and find my first. It will probably take two years to pay my debt and save enough for the next. Hopefully the time scale will accelerate after number two (and after wifey gets out of college and starts adding to the "fund" and maybe if I'm lucky, I'll be making more coin at my day job, too).

Also, I laughed a little at Will's comment. Even here in Texas, I would not want to live, or subject my wife to live in our rental property while we rehabbed it. I wouldn't have camped out in it either. those types of deals do have to within a 20 mile radius of my house, though. Then I can camp out in my own bed. I rehabbed a little cargo trailer so all the tools push into the garage at the same time. Such portability with simultaneous security of tools eliminates the need to stay at the rehab property. It did cost $700 to acquire and fix up the trailer though...

Real Estate Investor · Ivor, Virginia

Everything you say is true. But the point I was trying to is most everybody reading has enough money/or access to enough money if they are willing to sacrifice some comfort for a short period of time. I have bought 5 houses in the last 14 months all were less than $7000 and all but 1 could have been occupied at closing.

Real Estate Investor · Los Angeles, California

Stanley I completely agree with your approach but unfortunately (as will pointed out) I live in Los Angeles where you would not be able to find a house for 15K. What would you suggest I do? Look out of state?

SFR Investor · Wheat Ridge, Colorado


Jon Holdman, Flying Phoenix LLC

Real Estate Investor · Round Rock, Texas

Originally posted by Stanley Crawford:
1. Be willing to work and sacrifice comfort if necessary.

I don't agree with everything in your post, but this item certainly applies to everyone. The question is how much of your current life do you want to sacrifice to have a nicer lifestyle later on. Everyone has different priorities in life.

Saving is definitely helpful, but it won't replace investing well and having the work ethic to start a venture that will make you money in proportions much larger than what you can trade your time for. Some of the deals I am working on now will replace a nice engineering salary for a year with 2 or so deals. Other larger CRE deals we are targeting will make me a large multiple of that same salary annually too.

Don't starve yourself or sacrifice your family's safety chasing a few more bucks. There are things more important in life than money.

Small_inner10_logo__updated_Bryan Hancock, Inner 10 Capital
E-Mail: [email protected]
Telephone: 1-800-577-0401
Join Our Investor Base - Currently Growing 12% Per Week

· kingman, Arizona

This is exactly what i'm trying to do! I'm 21 and make 8.90 an hour I've saved up 14k in the last year and a half and i'm wanting to find a really cheap foreclosure, fix it up then rent it out then start the process over again, hopefully saving quicker from the rental.

Real Estate Investor · Garland, Texas

Originally posted by @Jon Holdman:

Jon Holdman somehow your 4 letter response carries more weight than someone else's 400 work response.

Gives me an idea for a new topic...

Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545

Rehabber · Santa Clarita, California

That is definately a flaw in the system Jon K., but what system is perfect, right!
Look forward to your new thread.
I have more than 20 words in this post, I guess no votes will come in.

Small_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]

SFR Investor · Wheat Ridge, Colorado

Since graduating from college in 1981, I've moved to Houston, then Bakersfield, now Denver. The first two because that's where the job was and then the third to get out of oil and into computers and live in a nicer area. All three, though, come down to trying to improve my life situation. For any particular sort of work, you may find better prospects in some area than others. You may just have to pack up your stuff and move to a hotter area if your desired work isn't available where you are. That applies to real estate as much as oil or computers.

Sorry, @Will Barnard wasn't trying to hijack your answer. You had already mentioned moving.

Jon Holdman, Flying Phoenix LLC

Rehabber · Santa Clarita, California

No problem Jon, two heads are better than one!

Small_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]

Real Estate Investor · Garland, Texas

@Will Barnard i wasn't pointing fingers. My responses tend to be brief and the opposite of comprehensive, which is what is called for sometimes. And sometimes four letter words are appropriate.

The thread I was inspired to start was on moving for REI opportunities.

Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545

Rehabber · Minneapolis, Minnesota

Great post! I am currently in the middle of doing this! 10 to 15k is probably doable around my area, but I couldn't find my bulletproof vest when I purchased, so I picked one up for 72k in a better area and currently living in and remodeling. The forclosure had burst pipes so it turned out to be a more extensive rehab, but for all the extra work I have had to put in I am still only a few thousand over budget, which I am actually pretty happy with. The extra money turned out to go towards outragous building permit costs I didn't account for (and the fact that I needed a licensed plumber to do the work according to the city when I planned on doing it myself). Learning a lot though!

You definitely have to be willing to sacrifice! My mother has anxiety whenever she stops over at the construction mess I live in, but apparently I'm not too picky with my living standards right now...

I went FHA and my year is up in august. Actually got a 203k loan with 10k rolled into the morgage to cover most of the rehab costs. I still have quite a bit of work left but I am itching to get another property soon, which I plan on purchasing with my lottery winnings. Can't win if you don't play, right?

Multi-family Investor · Sacramento, California

@Stanley Crawford & @Jon,
You guys are inspirational. Thanks for sharing and wiping out my excuses. I can't work Stanley's numbers in Sacramento, but I probably could be more creative.

Small_leadinglandlord180x180pxAl Williamson, Leading Landlord
E-Mail: [email protected]
Helping Landlords Increase Their Income and Equity

Real Estate Investor · Ivor, Virginia

but its closer to LA

Real Estate Investor · Ivor, Virginia

Not quite $15k but kinda close

Sign up