Best way to start out and grow

[Account Closed]

I am a young soon to be investor. I will have little money to start (under 50,000) and was wondering what would be the best way to start and grow. If it was to buy multifamily and rent out, buy cheap forclosures or fixeruppers for 10 to 20k (yes available  in my area ) fix them up, rent them out and refinance to take the cash out and keep using that to gain more, or to do the same with multifamily. I am looking for rapid growth and numbers but primarily cash flow to keep investing. Any help would be great. Thanks.

[Trevon Peracca]

In regards to starting out, there more ways than i can count. whats best for you depends on your specific situation. You can do anything from crowd funding, FHA/VA, 203k, Hard Money Lenders, Private Money Lenders, Partnerships, leveraging a self-directed IRA, etc.

When people ask me how to raise money, there are many questions that must be answered before guidance can be given (e.g. - What is the money being raised for?, How much are you trying to raise?, what is your current DTI?, and most importantly: HOW MUCH TIME DO YOU HAVE?)

If your not comfortable sharing that information publicly, find someone here on BP that is doing EXACTLY what you want to be doing and send them a message. Introduce yourself, explain your situation, share your goals, and your plan to obtain those goals. conclude by asking if they might be able to point you in the right direction. whether it be quick tips, references to study material, occasional coaching, or a complete mentorship/partnership.

Another avenue i DEFINITELY recommend is: The Book on Investing in Real Estate with No (and Low) Money Down. @Brandon Turner

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The Book on Rental Property Investing: https://get.biggerpockets.com/rentalbook/

At the end of the day no advice get, no matter how much you study, none of will matter unless you take action and make mistakes and learn from them.

I will leave a couple references below:

Also look at The Ultimate Guide to Using Direct Mail Advertising to Grow Your Real Estate Business: https://www.biggerpockets.com/renewsblog/2014/04/0...

I promise if you spend enough time here on BP, if you have an unwavering passion to accomplish your goals no matter what it takes, and you TAKE ACTION, you will get where you want to be.

Hope this helps...

Best Regards,

Trevon Peracca