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Updated over 7 years ago, 09/06/2017
My Situation how can I reach my goals
Hello BP & BP members,
My name is Justin Aguilar. I have been looking and studying off and on for a couple of months as to how I can start investing in Real Estate. I would like feedback as to what I can do in my situation to reach my goal. My goal in Real Estate is to own multiple different properties(preferrably multi-families) to have enough cash flow to be financially free. As of right now, I do not have a lot of capital to work with. I am living in an apartment with 2 roommates in Los Angeles, CA. Rent is high, but i am able to keep up with my part of rent with a couple of monthly expenses. I also have enough income to keep up with my groceries. I have very good credit at around +730-760.
So far, in my situation I believe to gain quick capital and lump sums would be the best route. So instead of gradually buying property at the moment, I want to pursue in creating fast lump sums to fund those properties and as well to save some of those capital gains. I say I should start off with Wholesaling/Flipping. My strategy here is, that I find a deal and instead of wholesaling to an investor, maybe I can JV with him/her. My problem so far has been.... I CANNOT FIND A DEAL. I know when it comes to marketing I WILL be needing capital.. But how much capital will I need? Can i use my good credit as leverage for anything? I mean I have done some direct mailing. I spent $600 dollars on Free and clear homes... I got no bites.. I have done handwritten letters before, I have gotten a couple of phone calls, but a lot weren't serious sellers. I have done driving around for dollars and writing down the address and doing direct mailing to those addresses. Is there any niche you guys suggest I work myself into? Can anyone provide a link for a step-by-step guide into how i can "farm" a proper area and if its worth it? Thanks BP members!