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Updated about 11 years ago,
Real estate vets, how do I work effectively?
As a new-ish investor, I'm wanting to turn this into a career, into monthly cashflow that covers my monthly nut and allows me to put money back into my business. I keep hearing about wholesaling and I like the principal of it. I think there is a bit of a get-rich-quick stigma about it, however, and I don't want any part of that. (I'm fine with getting rich, of course, but not into schemes, haha!)
What I would love is some guidance when it comes to this:
How can an aspiring investor with limited capital (lets say roughly $15k) best use his time and money to grow his business?
Wholesaling appeals to me for two reasons: first, if you're going to do it right, it forces you to educate yourself, and fast. Additionally, the startup capital is limited to whatever you choose to spend on marketing, so almost any one can try, if they decide. Then, I suppose, it's up to work ethic and execution.
I also like the idea of negotiating seller-financed deals on rental properties with lower down payments.
Any thoughts on how I can work most effectively?
I don't want to wait years between each acquisition because the banks don't like self-employed income, not do I want to wait to put together a 20% down payment. Any help on how to most effectively and rapidly experience growth is appreciated! Thanks!