Some Creative Ways to Add to Your Portfolio With Little Money?

Question

I am writing this post in hopes that some of you have some great ideas or advice on what I can do in 2023 to grow my portfolio without having a lot of money. I'm currently house-hacking a duplex in Columbus where I used a 0% down loan to get in a few months back. However, with it being 0% down and where interest rates were, my portion of the mortgage is a bit high. I am low on capital but would love to get a 4plex and house-hack that next year. However, I know that a 4plex is hard to come by out here so I'm not banking on it. I have also thought about trying to BRRRR some properties in Cleveland due to the low price point and the ability to maybe get some cashflow that can help to offset some of my expenses. My main goal for 2023 is to either add a 4plex to my portfolio, or a couple more affordable cashflow properties in Cleveland.

My goal is to be able to not have to work a 9-5 by age 30 and to just do home inspections on the side (I have my exam in a couple weeks to get licensed). I know this sounds extreme, but the main reason I got into real estate was so that I did not have to work jobs I hated anymore, and could travel instead or spend my time working on things I actually want to. Does anyone have some suggestions about what I should do or try to do in this upcoming year?

My goal is to be able to not have to work a 9-5 by age 30 and to just do home inspections on the side (I have my exam in a couple weeks to get licensed). I know this sounds extreme, but the main reason I got into real estate was so that I did not have to work jobs I hated anymore, and could travel instead or spend my time working on things I actually want to. Does anyone have some suggestions about what I should do or try to do in this upcoming year?

Remington Lyman · Answer

Become a Realtor or start cold calling. Or better yet do both

Steve Vaughan · Answer

Even with seller financing, sub2 or LOs you will need some money.

Sub2 needs moving money and closing costs at a minimum. All of my SF buys have needed about 10% down.

Usually if the deal is good enough, the money will follow. A specific deal can be ran by potential partners as well.

According to all the Reafco people on here, you're in the best market on the planet.  Let's see if they have any creative or other ideas.

Scott Allen · Answer

@Thomas O'Donnell

You can look for partners that can help with obtaining a loan - offer to either do the downpayment or the property management part of keeping the units filled and updated. You can also cold call to help put deals together or just like you said, start doing inspections to raise more capital. If you do either cold calling or inspections, it'd be very beneficial to start under someone that can help get you get experience and momentum

Eliott Elias · Answer

Partner. Be the deal hunter, the money will find you if the deals are god enough. Try not to give up equity, give a return at the end of the project to your investors

Harrison Chow · Answer

One option is to partner with other investors and pool your resources. This can allow you to invest in larger properties or projects without having to come up with the full cost yourself. You can also consider investing in Real Estate Investment Trusts (REITs) or crowdfunding which allows you to invest in real estate with a smaller amount of money. Finally, you can try lease option sandwich. it is a real estate financing strategy in which a tenant is given the right to purchase a property while also leasing it from the seller. The tenant pays rent to the seller and, at the same time, pays an option fee to the seller. The seller then uses the option fee to purchase the property and leases it back to the tenant. This allows the tenant to benefit from the appreciation of the property and build equity without having to put down a large down payment. The seller also benefits by collecting rent and the option fee. By exploring these options, you can invest in real estate with little capital.

Let me know how I can help!

Caleb Brown · Answer

I recommend flipping items. I like buying pallets and selling on FB or eBay. I do it on the side for fun. It is not necessarily real estate related but you can make extra money to put towards a DP

Cheryl J McGrath · Answer

I would be interested in what loan company you used with 0% down. I'm 2 hours southeast of Columbus, Down by the Ohio river.

Good job, thank for bank Info.

Cheryl J McGrath · Answer

I would be interested in what loan company you used with 0% down. I'm 2 hours southeast of Columbus, Down by the Ohio river.

Drew Sygit · Answer

try wholesaling and look for motivated owners willing to consider low down land contracts

Thomas O'Donnell · Answer

Hello Cheryl, I used CF bank here in Ohio. They offer 0% down on a 2-4 unit property. Rates are a bit higher and my credit wasn't great to start so I ended up with 7.25% interest. However I negotiated for the seller to pay my closing costs so I got in with pretty much $0.

Some Creative Ways to Add to Your Portfolio With Little Money?

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