Getting started in realestate investing - Posted by C.Bell

Posted by jay on March 30, 2000 at 19:38:28:

Matt…are you familiar with a form called a memorandum of affidavit??? if so…where can I get this form.


Getting started in realestate investing - Posted by C.Bell

Posted by C.Bell on March 30, 2000 at 09:26:14:

I am extremely interested in becoming involved in realestate investing. I don’t have much money and my credit is mediocre. I think that I can get a purchase agreement to lease a house from a owner, but how do I find a someone to sublease the house BEFORE I begin to make my first lease payments to the owner? I am just scared that I won’t be able to find anyone to sublease the house and I will end up with a lease payment that could cause me financial hardship. Also, does anyone have any suggestions for someone like me who has no cash and my credit is not so great…How to obtain realestate? I haven’t had any bankruptcys or anything like that I just have some things on my credit from years ago that hasn’t dropped off yet. Any suggestions for a beginner with no money. Please don’t suggest friends or family to get cash, because they are all broke too. Thanks…

Re: Getting started in realestate investing - Posted by Matt B

Posted by Matt B on March 30, 2000 at 10:57:21:

One of the best things that I can suggest is what is generally suggested to all newbies on this board, and it is how I got my start. Read every post, article, and idea on this board. That should give you some general idea as to what area of real estate you would be most interested in to start.

It is important to get the most education that you can afford. I would suggest the first thing that you buy be Robert Kiyosaki’s Rich Dad, Poor Dad. Before I read that book, I was poor. It didn’t matter how much money I made, I was always poor. After simply reading that book, and making seemingly minute changes in my financial habits, I somehow accumulated a few thousand dollars in a month or so! I used that money to buy a few courses from this site and go to the convention. (last year) When I started doing lease options (my personal favorite) my credit was HORRENDOUS and I didn’t have any money to put into my deals. (I lost a lot of it because of my dealings with a crooked real estate agent, and my lack of knowledge.) I knew that I had to work the deal so that my credit was never an issue, and I didn’t have to come up with any money.

Guess what? All my lease options are deals where I’ve come up with no money (except for advertising) and my credit has NEVER been even remotely an issue. It just never comes up.

Good luck, and let us know how it goes.