Have you been looking for how to get started in real estate without any money? Let’s examine this idea and how it is true, but not entirely accurate.
There is more to think about when it comes to real estate without any money than whether or not it is possible. You also need to think about whether or not it is wise.
How to Get Started in Real Estate without Any Money (Is It Possible?)
Let’s be honest, ladies. I am not going to lie to you and get your frills going about something that is really a bad, bad financial idea. Yes, you can get started in real estate without any money. But, doing a deal with a $10 bill is NOT the same as having ZERO dollars to invest in your real estate dreams.
I have met people who literally have NO money and yet they tell me they want to get into real estate investing. It really bothers me! You see, I spent close to $30,000 to figure out how to close a deal with a $10 check! I invested in my knowledge to set me up for my own success.
Now, someone who is focused on using no money to get started in real estate, is usually not ready to invest in their dreams. They take their lease option fee, which I teach how to set up and collect, and blow it all in Vegas.
But, things do not always go well. Tenant buyers can back out of a lease. And, when they do, but Miss Spendsalot will still need to make payments on the owner financed property.
It takes financial know-how and responsibility to get started in real estate!
You can do wholesale or assignments in order to make a bunch of money, too. These are great options to do before you get started (called using “other people’s money”), and are totally okay! But, if you literally don’t have more than a thousand dollars or so for a “rainy day fund”, then that is really where you need to get started first.
I don’t know any coach or mentor who will teach someone how to get started in real estate for free. If you find someone who is willing to do that, they will probably want to split the deal with you. Or…you have just found the nicest person EVER (and that is not me…my name may be Whitney Nicely, but I am not the “nicest person ever” ::wink wink:: ).
You do need some money to get started in real estate, but not a whole lot of money.
I invested $15,000 in my first mentor to teach me how to do real estate investing. But, I made that money back in my very first deal! Then, I did 9 other deals that year and went above and beyond my wildest expectations!
You have to be willing to invest in yourself, and your dreams. I know it sounds really great to DIY it all and “save money,” but you have to ask yourself if your time is valuable to you, too.
A lot of people don’t want to invest in a coach or mentor because they want to use their money to invest in real estate. But, if I had not first invested in my knowledge with a mentor, I would not have gone on to have even greater success.
The only reason I got all of those deals done was that I had somebody in my corner; holding me accountable, helping me through the rough patches, and guiding me into smoother water.
You need somebody who is going to help you. Somebody who has been there before and can help you smooth out the rough times.
You might be able to buy a house for $10, but it takes an investment to get started in real estate.
If you really need to get started in real estate without any money you can do lease options. I love lease options. When I started, I would put a $10 check on a house to have a vested interest in it. Then, I would sell it and make $15,000. I did another one for $10 and did a lease option on that one, where I made $8000.
I took $20 and turned it into $23,000.
So, yes, you can do real estate without any money. But, I did not learn that from free YouTube videos, free ebooks, or coffee chats. I invested in my knowledge and put my money towards my education.
And that’s what you need to do, too.
Invest in Yourself and Your Dreams
If you really want to get started in real estate investing and learn how to close deals without any money, then check out my main course First Deal Done Fast. I have put together an incredibly rich and comprehensive collection of step-by-step guidance so you know exactly what you need to do.
If you are ready to dive all in and really set yourself up for success, make sure to check out FDDF PLUS which has even more training and support to get you seeing your financial dreams come true!
Come check out my FREE Facebook group where you can meet even more people who are serious about changing their lives with real estate investing. This community is amazing and you are sure to learn SO much from what my ladies have going on over there!
It is never too late to invest in yourself and learn a skill you can use for the rest of your life. There is nothing holding you back but yourself, so get out of your own way and step into your dream.