What are the best ways to find money to invest in real estate?

Question

I am considering getting into real estate investing in select markets, but have neither the credit nor the money to get started. I would like any suggestions on how to overcome this issue from any experienced investors out there.

I understand how the business works, and this is mostly just so I can build up a large enough cash reserve to live on for about 3 or 4 years, but so far my only idea is to become a salesperson and make some commissions to invest. I am basically trying to get other ideas from others perspectives.

Answer 1

work as a mortgage loan officer.. if you're in the lending industry, you'll get familiar with the real estate industry as well and be able to choose the best investments from among the rest, while earning great compensation as a loan officer from a top lender.. you can do this in the comfort of your home, train online, so everything should work for your future goal.. that's what i'm doing now and it's your best bet right now.. besides, it's the perfect match..

Answer 2

Don't invest money you don't own. Get a job and save money until you have enough to invest. You shouldn't even be considering getting into real estate unless you're experienced in the stock market and have plenty of money, and won't be totally devistated by a major loss.

Answer 3

Money is not going to appear magically. As difficult as this may sound, you must WORK first. While working, save money and open a secured line credit card (you have to deposit $500 and take loan out against your money).

In about 8 months with the money you save, open a secure loan at the bank for over $1,000.00 (same concept, you have to deposit $1,000.00 in the bank and take a loan out against your money). During the payment period of the bank loan, never spend the funds just deposit the funds in another account and pay back the loan with the same funds. This will result in you paying only the interest. This will help you to establish credit.

*** One year to 18 months later*** After having a good payment history, open a unsecured credit card and make payment for another year to 18 months.

Next, buy a car and make payments on time for three to four years. **Now we are FOUR - FIVE years from now (2011-2012). Now you have establish credit.

Now you can purchase a home. When buying a home, get a low interest rate and make payments for two years. Buy a house in a profitable market such as California where prices are always rising.

After Two years, (2015). Take the equity (profit from the rising prices of your home) from your house, and use that $200,000 to buy another home and repeat the process. In those homes you purchase, rent them out to people to cover the mortgage and keep the equity from the homes.

After doing this process which ma take another two years, you will have at least $500,000 in equity (depending on the market).

You can begin opening your own business, (something low maintenance such as a laundrymat or self-car wash). After this process you can begin buying larger buildings.

I advise you to take some courses on Real Estate at your nearest educational center and some courses in Business and Money Management, ASAP.

I based my money figurs on the Southern California market. The process is not easy especially if you have no credit and no funds; you are looking at about 6 years minimum to 10 years to complete the process. If you already had credit and funds established, it would take only 2 years minimum to 4 years.

Answer 4

If investing in real estate was a good idea for you, you would already know how to overcome this issue.

Answer 5

save save save

work 2 jobs?

and do not fall for any internet scams....they will take you and your identity for a long ride

good luck

Answer 6

A job would do a great deal for your finances.

Answer 7

Earn it.

Or buy lottery tickets.

Answer 8

In your mind. We are capable of so much but we don't realize our own potential.

Answer 9

You have to wait.

For your inheritance.