This is one of the questions I get asked all the time
Many people will suggest, get a property inspector license, become a real estate agent, or find work at a title company, although it may be a good start, I think you will be wasting your time.
If you truly want to invest in real estate, use your time wisely.
The premise of getting a license is to gain expertise, but you will need training that costs money that you don’t have
Also, once you get a license, there are costs to get started, market yourself, find clients etc.
So, if you don’t have money or credit, you will be wasting your time and effort in something that will take you nowhere.
The same thing goes when working in a title company, you will learn the behind the scenes, and getting familiar with paperwork, but it won’t make you a successful investor.
The most successful investors that I know personally, started with no money and now they are millionaires. These investors had a bankruptcy, lost their homes in foreclosure, had no credit, were homeless, or were living from pay check to pay check when they started in real estate.
If you want to fast forward your learning curve do the following
Work as a property locator for an establish investor
A Property locator or a Bird Dog is an individual that its sole purpose is to find distressed homes. The goal is to find a property the establish investor will buy and in return you will get a locator fee. This Fee can vary from $200 to $3,000 or more. It all depends of how much work you do
By doing this, you are learning how to find the right properties, and the process to get a house from contract to close.
You can ask the investor to go to the appointment to see how they negotiate with the seller. Also, if they can give you tips or feedback of getting started, so one day you can do it yourself.
You will be surprised how they would be happy to help you. But, if they are not willing to do so, find another investor that can give you the information you need.
This is the easiest and best ways to get started, you can work part time or on the weekends, you create your own schedule and hours. If you have a full time job, you can find properties after work or on the weekends, is that simple, while getting extra cash.
Start wholesaling right way and figure it out as you go
Get a free book from the library and find a few real estate blogs or articles that can explain the wholesaling process.
Also, join a real estate community or forum like Biggerpockets.
Read for a few months, put a plan together and take massive action.
It can be overwhelming at first, but you will be surprised how fast you will start learning.
If you have questions you can always post your comments in a real estate forum or community or ask some investors that you have met locally.
When getting started wholesaling houses, the most important team member will be your escrow agent at a title company.
Make sure the escrow agent is investor friendly, because they can make or break your deal. Also, they will answer all your questions in regards to getting the contract close.
The rest of details like marketing distressed properties, negotiating with sellers, finding a buyer can be learned as you go.
This is exactly how I got started in real estate. I spent two months reading on wholesaling houses and then I took action. I was lost at times, but now I look back and it was worth it.
If I did it, you can do it too.
Don’t wait any longer, get started in real estate with no money or credit by following any of the two suggestions I share in the blog
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