Real Estate Investing With No Money?

[Cody White]

Hello everyone, I'm new to investing in real estate and I really don't have the cash to start the way I want. But if I keep pushing it off until I feel "comfortable" it will never happen. My credit also isn't great but I have some assets! I bought my first house a little over a year ago at 24yo and I now have 23k in equity and none of the remodeling has been accounted for. I also have a couple cars so my question to you guys is.. what would you recommend me do to get started? I have an idea I'd like to run past you guys and that is, doing the numbers every day on at least 1 property until I find a good deal. Then if it's a good enough deal, I'll try to find other investors to either wholesale to or simply sell them the deal. From there I will save up enough cash to buy my own rental or flip. I know this can be done but is it my best option? I also like the idea of creating money out of nothing

[Julio R Gonzalez]

@Cody White

I am in almost the same situation you are (except I don't have CC debt but I do have two cars that I still owe, but they are worth more than what I owe).

I had in mind the same scenario, I wholesale to get some capital ($) and then get my rental property (BRRRR).

I ran this plan by two investors (one with quite some years of experience) and both told me to just get the rental property and forget about wholesaling or fix/flip. Do one rental a year so you can use the FHA (have to live in it for at least one year), save some $ during that year and get the next property with another FHA keeping the 1st property as a full rental.

I know this is slow but I think it is the less risky for guys like us that if a wholesale or fix deal goes south we will end up worst.

I would love to hear what other investors with experience think!

JRG