July 10, 2012 · Leave a Comment
Still procrastinating because you “don’t have enough money” to get started investing in real estate?
While it certainly makes sense to have some stability before getting into some forms of real estate investing you can really get set yourself up and start working your first few deals with less than $100, even if you are totally starting from scratch…
Yes, there are all types of fancy materials and tools you can invest in and perhaps should later on but don’t let a lack of cash hold you back.
What you need to get started in real estate investing:
You don’t need an iPhone, smartphone or a real phone of any sort to invest in real estate. With access to the internet new investors can utilize low cost VOIP phone services like Skype for as little as $3 a month for unlimited calls.
While a computer may be the most essential piece of equipment for real estate investors today that doesn’t mean you need an incredibly expensive desktop and two 30” screens. Rent-to-own stores can get you into a laptop for as little as $20 a week while cyber cafes can get you online without ever buying your own.
Marketing is one of the most important factors for real estate investing success today but those who are really strapped can do plenty for free until they nail their first deal. WordPress can be used for setting up blogs and websites for virtually nothing, Craigslist still works for ads, then there is forum and blog commenting, article marketing and of course social media.
So what if you have horrible credit and no cash. Between transaction funding, private mortgage lenders and joint venture opportunities you don’t need your own money to fund your real estate investing deals.
In fact you don’t even need a computer, phone or online marketing at all for your first deal as long as you can get out there and network in person. Just don’t take this as an excuse not to invest in your real estate education. That’s one area you can’t afford to skimp on.