Beginning with little to no capital

[Account Closed]

I'm 19 years old and I want to get into making a steady income purely off multi-family rental properties. My only problem is my lack of available capital, what is the easiest way to initial get enough capital without having any assets and after the first house is bought how would i go about further expanding.

[Nathan Gesner]

I agree with the others. There's no free ride in life. Don't listen to the gurus that say you can make millions without spending a dime. Someone has to pay for it and it's either you or you have to borrow it from others. Being indebted to your eyeballs to others is not a recipe for success.

Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control your finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by @Scott Trench , or The Total Money Makeover by Dave Ramsey.

If you are single, or at least without children, then you're probably already living in an apartment. Why not own the apartment building? Buy 1-4 units with a standard Fannie/Freddie loan and occupy one of the units. If you buy right, all the expenses will be paid and you may even make money. Do it again a couple years later. Within 10 years you can own multiple properties, live off the income, and move into your own single family home.

If only I knew then what I know now!