I have no money and no job. How do I start?

Question

How do I start “creating” wealth from thin air?

Jim K. · Answer

Find a sugarmama.

Wayne Brooks · Answer

You don’t..... Get a job, save money, invest smart, work hard at it for a couple of decades.

Bill Plymouth · Answer

@Alan L Blackwell Jr you can’t “create wealth out of thin air”.

Step 1: do something to build capital.  You aren’t “above” anything. Deliver pizzas, get a bartending job, drive for Uber, do odd jobs, serve at a restaurant, or sell something.

Step 2: set aside half your paycheck. It doesn’t sound like you’re in a position where you are “struggling”.  If you don’t have a job, but you have internet access.  I assume you live at home and someone is providing for you.  If that is not the case, then you need to figure out some other things before you start investing.

Step 3:  Go to free or cheap networking events.  Start making connections.  You’re network is your networth.  I would suggest 2 a week at least.

Step 4:  Educate you a s s off. Consume every piece of information on real estate and investing you can find.

Step 5:  learn that this isn’t  get rich quick scheme.  Real estate is a marathon, not a sprint.

I hope you figure things out.  Good luck

Doreen M ODonovan · Answer

Wow, I disagree with everyone. You have lots of time right? Except when you are filling out job applications to make sure you get your unemployment check. (Sorry if you aren't even getting that.)

This plan is for getting to know someone who does have money (or even making money yourself) but really if you have no money, you can bring your time and ability to help someone else make money to the table.  If you help someone else make money, they might pay you or even better, pay you a percent of how much you helped them make.

1. Look for book recommendations in this forum and then search for podcasts with authors of those books and listen. Faster and cheaper than reading the books.

2.a Figure out what area of investing you are interested in. Do you want to do handyperson work, learn quickbooks, do research to find good deals, knock on doors to look for people who want to sell their house, push paper, learn about how to promote on Social Media, use software to show people what a house could look like (like on Property Brothers)?  I know people right now who could use someone who could do those things. You are just learning, so don't charge much. You show them that you make them more money than you charge.  You work while you are learning about the business and they are learning to trust you. Everyone is happy.

3. Call some people who you think might want your services and tell them about your plan. Then LISTEN to what they say. Adjust accordingly. So few people actually talk to other humans this is a way to stand out.

OR

2. Start your own business. Become a realtor (a good way to find good deals), start a Youtube channel or blog about some aspect of investing that gets you excited, and it will make money via affiliate marketing.

Then

Once your area is narrowed down, listen to some more podcasts to learn more deeply about the subject. Take a class at the local college/library/job center or online (other entrepreneurs offer some free some not free information or Coursera).

Call even more people and follow leads until you find someone who wants what you have. Even if you just have enthusiasm, a pleasant personality and the ability to talk to humans you will be ahead of many of the people out there.

Don't even think about any of this BS. "I am too old", "I am too young", "I didn't do well in school, I can't learn anything", "my friends/SO/parents will say this is dumb, I shouldn't do it", or "I can't do it because it might not work out".  And worst of all "I just want to make money without doing any work!"

Right now I would pay someone a cut if they could bring me a deal that meets my criteria for buying my next property. I have a rental on the market and I want to replace it with something that makes a gross rent multiplier of six or lower and also meets my other requirements.

Jim K. · Answer

I can teach you no-money-down investing for a McRib and your firstborn.

Anthony Wick · Answer

@Alan L Blackwell Jr

C’mon Man!

Alan L Blackwell Jr · Answer

What about the no money down method?

Alan L Blackwell Jr · Answer

Inherit it through hard work !

Caleb Heimsoth · Answer

@Alan L Blackwell Jr inherit all your money

Benita Amin · Answer

Hi Doreen,

Where are you located or where is your rental located?

I have no money and no job. How do I start?

Most Popular Reply