No Stable Job Sacramento California

[Quang Tran]

Is it possible to get into real estate investing without a stable job? Or a without a job at all? I know you can use private lenders like family and friends, but when it comes to getting loans from hard money lenders or banks, is it possible? I'm currently attending full time in college without a job but I want to get into real estate investing whether it be wholesaling, flipping, or rentals. (Eventually I would want to Invest in all types of real estate) I also have very little work background having worked at a Jack in the Box for a year and a golf course for a year. I appreciate all comments tips and tricks! Thank you.

[Al D.]

A word of caution, Quang: I have seen roadside signs and Craigslist ads in Northern California, where a "Real Estate Investor Seeks Trainee $1k-$30k Month Text Your Name To..."

I checked it out purely out of curiosity: It ended up being a $20k "educational" network of "investors," where, if you bring in the next victim - ahem, "trainee" - who signs up, you get some money back (I think $5k for each) from the $20k you put up.

Out of further curiosity, I asked what would happen if I brought another "trainee" in without first paying my $20k; would I get the $5k? No, I'd have to sign up and pay first. That gave me all the education I needed about these "investors."

From speaking with another (actual) investor, I learned that this group operated heavily in the Stockton and Sacramento area.

Bottom line: if you come across someone who tells you that you have to pay to learn from them, I would suggest to continue looking - it is possible that you may learn something from the "education," but, in higher likelihood, you'd only end up deeper in debt, or worse, in a bad RE deal that they could not find anyone else to sell to.

There are plenty of honest people still around, many are successful and some of those have blogs and podcasts that you can learn from for free (although, they still seem to have something to sell you, but it is a fair trade off.) BP is a great source in itself. Like with anything else in life, you just have to vet the individual. Your specialty is communications; keep asking questions until you are satisfied with the answers. Good luck.