Help?

[Joshua Wagener]

Wanting to get into REI! But have no money to get started?? I have heard of ways to get started, but figured someone else might have some more knowledge as to what would be a great way to start from nothing to something. Any information would be greatly appreciated!!

[Jonathan Makovsky]

@Joshua Wagener Here are the things I would recommend:

1. Research and gain an understanding of the language and key terms of the type of investing you want to do (e.g. wholesaling, rehabbing, buy-and-hold, etc.), 

2. Be an expert in your target market. Know all the streets, how much properties are trading for, go to all the open houses, research what is going on in the local business market (local newspapers, online forums can help with this).

3. Find local successful investors who are doing what you want to do and tell them that you will find them what they are looking for in return for mentoring you for a certain amount of time per week or month. DO NOT WORRY ABOUT IF or HOW MUCH YOU GET PAID FOR BRINGING THEM THE FIRST DEAL OR TWO - you will learn first and make a lot of money later! 

4. Possibly become licensed, it's a pretty cheap way to get in the game and then you can make some side money and be an asset to local investors.

5. Make some money doing something else and save it for REI - you will need it no matter what stage of the game you are in.

Best of luck!