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Updated about 4 years ago on . Most recent reply
How to Start with no cash, credit history, etc...?
Hello!
I'm a college grad of about 2 months. I'm a complete newbie to real estate. The most I have done so far is buy some biggerpockets' books, read forums, connect with other real estate investors on the site, and begin learning the basics of deal analysis. But I have no credit history or cash to start my first deal. I suppose I could find a partner, but I don't want to use someone else's money when I'm so new to real estate. I think it would be unwise so early in the game and rather use my own money. So I got a manager position job and plan to build up cash reserves and a credit history. After about at least a 2 years I'll have enough to take out a loan and put a down on a house. But apart of me feels like this is so slow. I would like to have at least 5-10 properties in my portfolio instead of just 1 in the next 2-3 years. Do any of you have advice on how I could go about accelerating the process? Thank you for your help in advance.
Most Popular Reply

- Real Estate Broker
- Houston | Dallas | Austin, TX
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@Account Closed start with wholesaling during your free time. Driving for Dollar and Door Knocking are 2 great strategies many investors have success with.
After you wholesale about 5 deals, you have developed the confidence to flip or buy & hold your own deal. Use Hard Money Lenders for your first deal as this is an ASSET-BASED (Based on the deal NOT you) lending and they will lend your money to purchase and 100% repair cost if the deal make sense.
Continue to network with local investors in your city and I will see you at the top.
Goodluck
- Wale Lawal
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- (832) 776-9582
- Podcast Guest on Show #469