Learning how to start a real estate business with no money is not as difficult as you think. When I first got involved in the real estate business I had very little money. I had saved some money from my previous jobs and this was enough to get started in my real estate investing business. I still remember how I started.
How to Start a Real Estate Business With No Money
I went to my local bank and applied for some investment properties. The manager of the bank looked at me and said that I did not have any experience with these types of real estate properties. I had no idea what he was talking about but I respected his opinion. He then told me that I had to get a real estate license before being able to invest in these types of properties. I had no idea how to do this and it was a hard decision for me to make at that time.
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Fortunately, I had learned a thing or two about real estate investing by then.
I knew that I needed a license since I was a real estate investor and therefore had to have my investment property. I needed a license for several reasons but the main one was so I could apply for an SIA (Securities and Exchange Commission) security number for my investment properties. This way they could check my credit rating to see if I was reliable with my investment property.
I had no idea how to go about getting the SIA security number so I had to find out how to apply for seller financing.
I learned that all real estate investors needed seller financing to buy investment property. This was great news for me because I could now use my SIA number to secure the loan for my investment properties. I was able to do this in less than one hour in my office.
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From that point on, I used my SIA number wisely.
I secured loans for several properties including a condominium. This is a great method of real estate investing for first time homebuyers. This is also a great method of real estate investing for investors who have more money to invest. I was making about six figures a year from these deals. Of course, it didn’t last but I learned how to start investing in real estate by using this great method.
The best part of real estate investing with real estate partnerships is the flexibility that you can get out of them.
When you use your own capital to purchase properties you are locked into that price for a certain amount of time. However, when you work with other investors you can have them pay off your debt before you sell the property. This gives you time to find other investments and make even more money. In this manner, you can continue to make money for years to come.
As you learn how to start a real estate business with no money, you also develop skills that will help you later on. You learn how to evaluate investment properties. You learn how to negotiate the purchase agreement. You learn how to close a deal and you also find out how to keep property values from falling.
Real Estate Investing With No Money
The most important thing when learning how to start a real estate business with no money is to have an exit strategy.
Never get caught up in the excitement of buying investment properties. Always have an exit strategy that you plan out and then execute it. Once you learn how to do this, you’ll soon be selling real estate and making the big bucks that everyone wants to make!
