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Updated over 9 years ago on . Most recent reply
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Investing and making the most out of 2-3k
hello I'm a newbie investor and I'm looking to get started immediately. Id like some advice on what would be the best way to get started with the little bit of cash I have. I've got about 2,500 and just wanted some advice as to how I could use that little bit of money to get my first property without using my credit at first. Any and all advice would be greatly appreciated
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- Flipper/Rehabber
- Arlington, TX
- 2,225
- Votes |
- 1,893
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Here's your 5-step plan:
1) Develop a cash buyers list of people who can fund a flip.
2) Get a website or landing page.
3) Set up a Google Adwords campaign with a $20 per day budget.
4) Also do other online stuff like Craigslist, but most your action will come from paid media.
5) Work the leads as a wholesalers - find deals, get them under contract, get them to your cash buyers, and get paid for finding great deals.
If you don't yet know how to do Wholesaling, send me a colleague request with your email address and I'll give you our 3-video WHOLESALE ACCELERATOR course for free (offer open to any BP'er).
Other strategies like Subject To require significant capital investment and rehab expertise. Stick to "wholesaling" (assigning contracts) until you have some capital to fund actual investments. Make sure you have 5-10 legitimate buyers that you can contact immediately after (or even before) signing a contract with a seller. While I promote wholesaling as a way to get started, I also - like a lot of BP'ers - think you need to be responsible in making offers to sellers; you need to KNOW that you can fund a deal via your buyers or you can really jerk around a homeowner who thinks they found a solution to their problem. So be sure to do step 1 first....