Can I get started with little to no capital?

[dsgallant]

I am new to the world of real estate investing but this is what I am looking to achieve. I am educated in that I have a Commerce degree in Accounting and am finishing up my Masters of Business Administration, in addition to my Certified Management Accounting designation. Due to paying for all of this education, I have very little, if any, capital to get started in real estate investing.

I am looking to purchase rental properties on PEI and hold them long term. Selling them only at a point in the distant future where the market is telling me to sell them.

Is it possible to get started buying properties with little to no capital???? Is it possible to negotiate the seller to pay any down payments, etc.

What should I do to get started? Any help would be greatly appreciated. Thanks in advance.

 

[Mitch Collins]

Hello!

You`re definately in the right place if you`re looking to begin investing with little capital of your own. As you`re already a professional and have spent a lot of time developing your education, you should find it fairly easy to learn the JV principles REIN teaches - utilizing these you can buy millions worth of property potentially without any of your own capital.

Just spend adequate time becoming a specialist at whatever you do, and then become able to find and locate great properties. Once you are able to do this, and are comfortable with financing, legals, property management, etc - finding JV partners should be fairly easy if you follow what REIN teaches and always seek a win/win deal.

This networking group is full of people who have bought a whole bunch of property without having any personal capital to invest with.
Good luck - I`d be happy to offer additional assistance if you`d like too - PM me!

Regards;

Mitch

 

[invst4profit]

Are you presently employed, planning on finding employment when you graduate or
are you expecting to move directly into investing.

 

[Thomas Beyer]

in theory: yes, you can do real estate with JVs with no money .. and find people who invest with you .. although this is VERY VERY difficult .. as most folks like to see a track record or proof point and some experience !



read this post on ways to make money: http://myreinspace.com/public_forums/Real_Estate_Discussion/62-2302-What_is_better_a_mortgage_or_a_line-of-credit_.html



start with a decent job, save some $s, invest in real estate with your own money, THEN ask others to join you .. a multi-year journey BUT VERY DOABLE if you are patient enough and dilligent enough !!



Why PEI ? is this an in-migration hotbed ? Hot economy ? Scenic beauty alone is OK .. but goes only so far especially if far away from major urban centers .. why PEI ?



To be successful in real estate you need 3 things: time, expertise and $s ... which ones can you bring to the table ? right now only: time .. and you need ALL 3 .. so work on all 3 .. and in time, $s will come your way from others because you invest the other 2 (time + expertise)



Happy Sailing !

 

[GSI]

QUOTE (thomasbeyer2000 @ Mar 27 2008, 04:54 PM)
in theory: yes, you can do real estate with JVs with no money .. and find people who invest with you .. although this is VERY VERY difficult .. as most folks like to see a track record or proof point and some experience !



read this post on ways to make money: http://myreinspace.com/public_forums/Real_Estate_Discussion/62-2302-What_is_better_a_mortgage_or_a_line-of-credit_.html



start with a decent job, save some $s, invest in real estate with your own money, THEN ask others to join you .. a multi-year journey BUT VERY DOABLE if you are patient enough and dilligent enough !!



Why PEI ? is this an in-migration hotbed ? Hot economy ? Scenic beauty alone is OK .. but goes only so far especially if far away from major urban centers .. why PEI ?



To be successful in real estate you need 3 things: time, expertise and $s ... which ones can you bring to the table ? right now only: time .. and you need ALL 3 .. so work on all 3 .. and in time, $s will come your way from others because you invest the other 2 (time + expertise)



Happy Sailing !




Hi DS,



I echo what Thomas says about building your 3 points. Many folks are looking to jump into RE right away and often with no money of their own. Just look around the REIN site and you'll find many 'experts' in the field. With that said, it is good to define your target area and become an expert there. Develop a laser beam focus, get a few properties behind you and THEN start looking for JV partners if that is what you desire. It's not the only route though, many folks buy and invest with their own cash too.



More and more REIN members are being attracted to the JV structure and that is great. But, one caveat I would mention again is experience... If you're looking for money to do a deal, make darn sure you know what you're doing. You may be an expert in theory- but not yet in practice.



I'm sure many will disagree and say just jump into the game, and I'm sure some will have success. But, if you truly want to build a long-term team and group of repeat partners, you need to temper your excitement to start and put your own seed money in the first few deals to understand what the commitment of the deal is about.



I think when your own cash is into a deal and you've lost a bit (or a lot) of it you'll better understand what risks there are, you'll make a better 'expert' for your partner. You'll have a greater respect for the cash that they're allowing you to use and increase under your expert care.



The mistakes and money you lose in your first few deals will prove invaluable money making lessons and improve your future deals tremendously. You'll be less likely to repeat mistakes again. As testament to that you can see many veteran investors share their mistakes and tips in this forum, we're all still making them though! Even if your mistakes aren't big ones or ones you even notice until later (maybe you just learn a better way to do something or how to save some cash here or there) it is that real experience that counts and contributes to you becoming an expert.



Thanks,



Todd-



PS: expert (n). A person with a high degree of skill in or knowledge of a certain subject. The highest grade that can be achieved in marksmanship.