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Updated almost 9 years ago,
Starting out with low or no capital
So I'm new here and I'm just now working through the materials on the site. I'm beginning to get a perspective on what to look for, but I'm not sure where to start financially with my present situation.
House hacking doesn't look plausible (family of seven, tough to fit into a duplex or the like). I've got minimal cash on hand (could scrape together a couple thousand, but not much more than that), so a typical down payment is out of reach right now. I have some physical limitations that would keep me from doing much repair work in a fix and flip situation (providing I could afford the time in the first place).
What I do have is credit and low debt, but I'm not sure how to leverage that without capital. As a graphic artist, I can make marketing materials, but without something to market it's not terribly useful.
I'm not trying to be negative (or positive for that matter)... just trying to make a realistic evaluation of what is possible. Can you suggest a way to get the ball rolling to build up some capital to work with (or recommend a specific resource I should review from BP)?