Have you ever seen those ads “No credit, No money, No experience…start investing in real estate!”? Well, believe it or not it is possible.
Of course, many of those so called “gurus” tend to be frauds and don’t really teach you the most effective way to accomplish this feat while maintaining integrity and ethics. Be very careful. Make sure to do your research and learn the fundamentals. It also has a lot to do with your own mindset and willingness to take action. There is no “magic bullet” or “get rich quick” secret. It takes education, dedication, and implementation.
Even if you are fortunate enough to have some start up capital and credit you will still need to learn proven exit strategies that will increase your return on investment (ROI). Try to avoid overcomplicating yourself and take it one step at a time.
Here are 3 simple ways to start investing in real estate:
- Wholesaling – Negotiate property and get it under contract. Sell the “paper”. Assign the purchase agreement to another buyer and collect the spread or secure gap Funding if necessary to resell immediately as-is
- Pre-hab – If you’re new to renovating property you may want to start off with minor work that will spruce up the home. Cleaning, light painting, minor cosmetic repairs…
- Passive investing – For the new investor or any investor looking to retire early. This is the most efficient way to produce a great ROI for yourself. From properly managed cash-flowing rentals to private investing look for passive income opportunities that allow you to put your money to work safely
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