Starting with absolutely nothing

[Richard Zuptich]

I have been researching real estate for about five years.  I have even spent a lot of money to get information on how to get started in real estate without using your own money.  It was a "how to", that sent me a lot of things to read and even set me up with a mentor.  I read through every bit of the information given to me by this company and I even did everything they suggested.  I even consulted with the "mentor" they set me up with.  None of it worked, for me!  I also tried to get the mentor to explain in greater detail how I could work the techniques better to work for me, I got no where.  So now I am back to figuring out how to go through a bank and find a property I want to invest in and try to get started.  Problem is I have no money, my credit score is low, I live in a small rural community and I have been getting turned down with every idea I try.  I have been reading some things here on BP and I guess I am just not as quick as most and I don't really understand some of the "get started" techniques I have read about on here.  I really don't know where to go from here.  I guess Real Estate investing 101 is too advanced for me, maybe I need Real Estate for preschoolers!  I would just like some REAL guidance. 

[Joseph Gozlan]

hi Richard,

Welcome to the forum. Great community here with lots of knowledge. 

I have good news and bad news for you. 

Bad news: there is no such thing as investing in real east at with "no money". Even if you're in a terrible market where seller will do 100% owner financing you still need to be financially ready to the fact that day after you get the keys something happens that requires you to spend money. It could be a non-paying tenant that destroys the property, hail that damages the roof, storm that breaks a window, plumbing pipe that bursts inside a wall and soaks the carpet or as simple and the AC breaking down. 

Now the good news: the BP guys have a podcast!

Go back and listen to all 125 of them. You will learn a lot!

You will hear stories from real investors not "mentors". Some good some horror stories but all real world stories. 

Then go work you *** off, live like a student and save every penny you can until you have a good amount that can get you through a deal and keep you comfortable while doing it. 

Good luck!

Joe