Where did you get your money to start investment

[Christian Benitez]

Currently I do not have the best credit (fair) and not so much extra cash. For those of you that have already made at least their first investment. Where did you get the money? Own cash, 401k, hard money lenders, bank.. Etc. tell me your story would like to learn different ways money can be found and used and how it went. Thanks

[Account Closed]

Fear of poverty !  I was raised by folks who got paid $7.00 a week for my room and board when I was 7 years old, I saw them work long and hard, he drove a coal truck and she saved and counted pennies in order to buy groceries. I guess fear of poverty was a driving force for me, I knew I didn't want to work that hard and long to earn a living. 

Joined the Army in 1959, I was 16 years old. Discharged at age 20 and started reading about real estate. Found a mentor, or he found me, showed me how to make money in real estate by buying really cheap houses in Baltimore at public auction. Learned lots about painting, plumbing, electrical, tenant management and working with my hands while going to public auctions everyday. Couldn't afford to pay contractors, had to learn and do it myself. (don't do that kind of work anymore)

I spent most of my money in the 60's buying tapes (remember tapes) and taking seminars on how to invest in real estate and creative financing. I am glad my wife had a great job, she helped to support my passion for real estate, I believe without her help I would still be working at a job.

My money came from several resources; 

#1 The seller, if the seller could not help me buy their property, I couldn't buy their property. Creative real estate was my number one asset for making deals; I had no choice, I had no money, no credit------ but I had a passion and a desire not to be poor.

#2 credit card advances and credit lines later helped me control houses. I didn't know that much about flipping houses, so I just kept them and grew my net worth and built my real estate portfolio.  To me, it was like a game or score card, every time I'd get a property I would calculate my net-worth, I liked to watch it grow. And it did using cheap properties purchased at auction.

Fast forward the clock, now at 73 years old, I stopped counting the net-worth thing, too busy doing deals developing commercial properties and helping others as apprentices to do deals. The money now is so much easier to make and accumulate.

Now own my own real estate auction company ----- isn't it great how a goal and a passion for something will materialize if you stick with it.

Charles