Is it possible to Start Investing On L.I. without "extra" money?

[Anthony LaBate]

Hello everyone. I am new to BP and Investing, but extremely motivated. I have a full time Job in Health care but also work part time as a Realtor and have a really good grasp of my local market. Unfortunately, I already own a home with a maxed out HELOC that I purchased in 2006 when the bubble burst, so I lost a bit of money there. Between my full time Job and commissions I make good money, but Living on Long Island with two kids and a family is expensive and I do not have any significant amount of money to put down at the present time. I definitely made a mistake with the home I purchased 9 years ago and if I had the knowledge I have now, I would have purchased a House with rental income to begin with.

So my current situation is, I want to get started Right away but have an existing mortgage and No cash to speak of to put down. What I do have is a lot of Knowledge of my local market and the ability to search for and to see many homes as a Realtor, and the ability to earn an average of 2% Commission to invest back into the deal on any home listed on the MLS.

What are my best options in this Situation?  Ideally I would like to Buy and Hold.

Thanks for any Insight.

[Anthony LaBate]

Thanks @Brandon Turner .  I am in chapter six of your book now, trying to figure it all out.  Hopefully something will fit my situation. Thanks for the reply