Im a young college girl, with bad credit & no capital. Any advice to get started? & find financing?

Im a young college girl, with bad credit & no capital. Any advice to get started? & find financing?

I need help. Im almost finished reading Dean's book (BARM). I must say his words are very enlightening and inspiring. I am young but I want to start NOW. I have seen a few properties in my area that I know are great deals but I don't know where to begin. I wouldn't dare try to get financing with little income and bad credit. I especially liked the story in the book where the guy in college gets started but I don't know of anyone that could help me in the manner his landlord helped him. Im determined to succeed in Real Estate, I honestly just don't know where to begin in my situation.

(Ana)

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"The greatest failure in life is not to try". -G.Thomas


Hi Ana!

Welcome to the DG family, glad to have you here. Well, your question is one that has been asked many many times here. Read the posts in the forum on this topic, there are a ton of them. My advice is to start with wholesaling or lease options, you don't need money OR credit to do either of these if you know what you're doing. You just need to find a good deal, lock it up and have an end buyer for it in place. It sounds easy but it takes knowledge and skills, so do your homework. Age is NOT a factor with investing, some of the coaches were 18 when they started... So you can do it too.
Hope this helps!

God bless you,

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Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."


Thank You : )

I appreciate such a warm welcome. I was thinking lease options would be good to so Im going to do some more research on how to "lock up" some of these properties. Thanks for the help!

__________________

"The greatest failure in life is not to try". -G.Thomas


Ana - Getting Started

I would suggest you join your local REI group and attend meetings regularly. This will give you the opportunity to network with other investors and possibly even find a mentor. Just be honest and tell them your situation and I believe you will be surprised at the reception you get.

There are a lot of great people out there that find just as much joy in helping others succeed as achieving success for themselves.

These forums and Dean's words of wisdom are also a source of education.

I must admit, I have been investing for some time now, but felt quite inspired by BARM. I hadn't read a real estate book in over five years until his.

I also had never participated in any forums until this one and truly appreciate the opportunity to contribute whenever I can. From what I have seen in the few days I have been around this site, there seem to be some great people out there and it's fun to be a part of it.

CTP


Thank You for the advice, I

Thank You for the advice, I never knew that. Im going to look into it. I just googled a few. The question now is to find out which ones are reputable for the Los Angeles area. California is full of scams and "actors" if you get my drift : ). I saw two that stuck out to me. They cost about 200 to 300 dollars a year, but I feel like it is worth it as long as they are legit.

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"The greatest failure in life is not to try". -G.Thomas


Are you a people person?

It also doesn't hurt to talk to a realtor, landlord, etc. There's got to be a relative, church person, parent of a fellow student, someone who knows a little about real estate. I like to talk to others about real estate on a "friendly" non-professional basis. If they've been burned by real estate, ask them why. Don't let them dampen your spirits (we here KNOW it works!), but maybe you can learn what NOT to do. The more people you talk to on a friendly basis, the more non-biased (what's in it for me) information you'll get. And that is free. When you find enough POSITIVE people, you're building a network.

This is a down market, but that's why we can make such a huge profit! I heard a quote once- "When everyone says to do one thing, do the opposite!" The media says real estate now is terrible. What do people here say?

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"Be very careful, then, how you live- not as unwise, but as wise, making the most out of every opportunity..." Apostle Paul writing to the church in Ephesus


Ana

To attend the meetings is usually $25 at the door, I don't believe you have to pay for the whole year, but I would check it out for sure. CA may be different than AZ in that respect. Tell everyone and anyone you know what you're doing, NETWORK, NETWORK, NETWORK! Have business cards made vistaprint.com will do them for just the shipping costs. Make it a goal to hand out as close to 100 a day or week, whatever you can afford. Build a buyer's list by putting ads on CL or backpage. Use the resources here to help you get started, it's FREE!!! Try to do something everyday to get you closer to your goal. Eye-wink

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Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."


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