OfflineHello everyone,
Ive recently got Deans books in the mail and i started off with reading the Profits from real estate right now and my wife has the other book. I am almost done with the book and im eager to step out of the box but im concerned. I have a low credit score and my monthly income will not allow me to go into the success academy. So i would like to know where to start if u have no money to even start with!? I live in Hawaii on the island of Oahu so pricing for houses are through the roof!. So if anyone can throw in some info or even if someone from Oahu i can keep in contact with that would be a lot of help. I would like to just know some info on where to start even if i have no money to put down for the house and possibly the process because i have an idea in my head but its all jumbled up into one ball of information that i cant sort so if anyone can help me sort it out through Private Messege or this Forum please it would be much appreciated! Thank you in advance!!
I am very jealous where you live and it's actually one of my goals to have the money from REI to be able to take a nice long vacation in Hawaii.
On another note, I too, have only been at this for about a month now and do not have much money to throw at it and am on the verge of filing bankruptcy due to my husband's company folding last year. Anyway, I cannot currently afford the success academt either but that does not have to stop you from moving forward with your REI goals! Here's a series of action steps that you can do that will get you on the right path to start...
1) Go online and search for a local REI club near you and join it. (I've joined 2 and they typically have 1 meeting/month and it's a GREAT way to network with other investors...potentially find buyers and/or properties that are available near you as well as they usually cover all different aspects of investing at their meetings and it's a great way to gradually gain valuable investing know-how from people who are doing it in your area)
2) Again, go online and search for a company that prints business cards inexpensively and make some up so you'll have something professional to hand out at those REI meetings. I just got mine about 3 weeks ago and it only cost me about $10 for 100 cards. You can always get a better price when you order a larger quantity, but I decided to start with 100 in case I wanted to tweak anything on my card then I could simply change it when I re-order and don't wind up throwing away 250 cards I no longer want) I also ordered two 11x17" magnetic signs that I put on the doors of my car to create automatic advertising every time I'm out driving around. I paid only $15(+S&H) for those so it seemed VERY cost effective as advertising goes.
3)Make sure you finish both of Dean's books then start going back and highlighting parts that you feel are important and maybe even get little sticky tabs so you can make it easier for you to go back through and quickly find sections or certain parts you want to re-read.
4) Start a journal on this website (if you already haven't). Journaling in and of itself is a great tool to help keep someone accountable to their goals and progress, but creating a journal on here has the added benefit of giving you a sounding board where people will reply back and help you by providing insight to their jouney, constructive criticism as to where you might be going astray, and motivation to keep going til you're successful. I come on here every day, if only for a few minutes because I always know I'll come away knowing at least one thing (usually many more) that will help propel me to my REI goals.
So, start with those 4 steps and you'll see how one thing tends to lead to another and so on and you'll start to get your own ideas of how to proceed.
Good luck and keep us all posted of your journey!!
Suzi : )
Check out my journal at: http://www.deangraziosi.com/real-estate-forums/investing-journals/29155/...
Thank you for your reply ill be sure to start on that. although i also wanted to ask. what is the best kind of property to start with no money down? and can you explain the process to me step by step clearly? cause like i said i have a idea from reading the book but i just want to verify if i was corrector if my assumption is absolutely wrong and if possible the explanation of the contract cause i know that's a big part of the deal and getting a certain profit. so if someone can explain the process and the contract. Then ill have a very good idea where to start on my first deal!! Thank you in advance! I appreciate the Help!