the best thing that you could do is find a realestate group in your area. i took a russ whitney course and learned a little, but the thing that changed everything for us was meeting a guy that got us to a real estate group. after that we bought 6 properties with nothing down and 0 % interest. you can read all you want but the only thing that will make you money is to start making offers. and don’t worry about your financail security, no one is going to look up your credit . the way we look at it is what can we lose, what is the worst thing that can happen you file for bankruptcie and you go out and buy some more houses. but you see that wont happen to you. if your serious about being in realestate you just have to make offers , sooner or later one will stick. good luck andy
I am interested in getting into the real estate profession. I have read some books, but I still cannot grasp the concept of no money down. I would like to find ways that I can do this without committing myself or my family to any financial liability. Please steer me in the right direction. Any comments will be appreciated. Also, if you could suggest some books to read and how to get started doing this, it would be a great help!!
Re: Please help!! I’m new to this - Posted by Maurice (Ca)
Posted by Maurice (Ca) on May 28, 1999 at 10:43:14:
I think anyone new to real estate investing & the concepts can be overwhelmed by the strategies (considering there’s so many). What helped me to grasp some of the ideas is this: you have to think outside the “box”. No money down, as the others have stated is simply using leverage or O.P.M. (other people’s money). It’s not saying there’s no money involved, it just doesn’t have to be yours (at least not all of yours).
I too have a family, but if you structure your deals right, then you can have limited liability & you don’t have to invest much money (depending on your definition)…but you do have to invest time, effort & the ability to think outside that “box” that the banks & general public consider “traditional”.
As the others have stated, start reading as much on this site & do invest in some courses & books to start understanding the terms & strategies. I am by no means an expert…in fact I too am new, but I do understand that it DOES work & we just have to be willing to learn the many different strategies. Trust me, we all feel the same way in the beginning, but you have to trust your gut & just do it.
This is just a rookie’s point of view that can relate.
It really means none of your own money down. That’s the key. Then if things don’t work out you havent lost anything. A good book to start with is Ron legrands “Fast Cash With Quick Turn Real Estate” Book. About $15 at amazon.com