building capital

Wow, starting at 16, good for you!!
What area do you live in? I work in Wisconsin and really felt the same way. How are you finding the sellers? I found that when I called them, I had problems trying to get them to come off a high price. Things did change when I started advertising looking for the houses. Then they were calling me. But put in your ad that you are looking for motivated sellers, rehabs, short sales or whatever. Let them know that you can offer some help.
Being new, they may kind of intimidate you at first, but sound confident. If you don't have the capital, and don't tell them that, tell them that you network with several other investors and you look for properties. Get the info, and never talk too long to them. You do want them to feel like you care, and you need to have compassion for their situation. But if conversation goes too long, you may end up telling them more about you and that may give them false hope. Because they may start asking you too many questions and reverse it on you. If you say I haven't sold or did deals yet, or that you don't have the funds to buy them out, that will turn them the other way.
If you need some ideas, just PM me, because in the past few months, my doors are really opening and it is easier than we think. Doing a couple deals to get started is easy, but as you want to grow your business, you need to grow your knowledge.
But there are so many ways to do deals and never use your money or credit. Happens all the time!!
So you are on the right track! Just market yourself.
Sandi

Just realized you joined today...so welcome to the site!
Sandi

Hey thanks Sandi. My mom found sellers buy posting signs around a local area "We Buy Houses" so after she found them she would put the house under contract and go to her buyers list... she didn't have a good list of buyers so none of the three houses she put under contract went through. Plus some of the FSBOs were just a bit too high on their asking price: just when their were about to get a deal, they just were not motivated enough. I live in Liverpool, New york but all our callers came from syracuse, New York....

congratulations for starting so young and getting after it !! working with your mom is exciting isnt it ?? working as a team is much more proficient.

finding ONLY...MOTIVATED SELLERS is the key to not wasting alot of time and money.put ads on craigslist like,..........WANTED:...ONLY VERY MOTIVATED SELLERS....I AM A REAL ESTATE INVESTOR THAT BUYS AND HAS CASH INVESTORS IN EVERY STATE!!!...CALL ME AT 555-222-666 !!!! TODAY

THIS WAY ONLY MOTIVATED SELLERS WILL CALL U....at least the majority ..you wont have as many to sift through.also you can locate vacant properties and find the owners...these r usually a MOTIVATED SELLLER.
ALSO U CAN HAVE YOUR REAL ESTATE AGENT SEARCH FOR HOUSES ON MLS THAT HAVE THE WORDS ....AS IS...OR NEEDS REPAIR....OR HAVE BEEN price reduced !!!

keep up your positive drive and push forward!!!
jay

Thank you!

Interesting way to weed out and get the motivated sellers. Thank for sharing. Best wishes, and yes congratulations for starting so young.

Doing a some deals to get started is easy, but as you want to grow your business, you need to grow your knowledge.

Homes For Sale Calgary

Congratulations on starting so young thinking about investing and building capital. I started young too. The key is saving. Learn to live on less than you make and pay yourself every month by putting at least 20% of your income into savings. I worked in construction from the time I was 12 and slowly saved a few thousand dollars over the years. When I was 19 I invested in my first rehab with my father by putting my money with his. We bought an older home, completely remodeled it and sold it for a small profit, about 20K, which we split. That gave me more money to invest. The next project was a small spec house. This time I went in on it with my cousin, using my money, his money, my father’s money and his father’s money. We bought a vacant lot and I designed a house for it. We built it doing much of the work ourselves and sold it for a profit; about 35K. That gave me more money. I continued to work as a carpenter while I attended college and kept saving money; at least 20-30% of my income. I eventual had enough to go in on another spec house; this time with a woman I had built a house for. She put up most of the money and I put up some and did all the work and we split the profit. This time we made over 200K and I finally had some real money to work with. I invested in another lot, built another spec house and made a great profit; over 300K, all for myself. I borrowed most of the money from a conventional bank as a construction loan to build the house. I bought the lot with cash. Many spec houses later, I had accumulated over a couple million dollars with a million dollar personal resident paid for. I was 35 by then. Start young, save conscientiously, involve other investors, borrow conventional financing where possible, and keep investing in real estate. It doesn’t happen overnight, but definitely pays off over time. Happy holidays.