5 Achievable Steps to Get Started in Real Estate With Little Money or Experience

by Kevin Perk

Real estate is “sexy” again, and lots of people are again dreaming of the good life by getting into real estate. Problem is, many of these folks have little money or credit and even less real estate experience. Don’t believe me? Go to any real estate club across the country or peruse the Forums on this website, and you will see and hear some form of the same question over and over again. How do I get started with no money and no experience? Well, I’m going to share the answer with you right now. The answer is: Find a good real estate deal.

If you find a good real estate deal, then doors will open up for you. People will likely be begging you to take their money and give them the deal, thus solving your money problem. What about the lack of experience? Well, experience is not necessarily needed to find a deal. Experience certainly helps, but you can learn what to look for and how to secure a deal just as easily as the next guy can.

Unfortunately, the answer I gave raises another, more complicated question, which is: “How do I find a good deal?” The answers to this question are, I think, what will put you on the road to real estate success and get you the money and experience you need.

So how do you find a good deal?

5 Steps to Get Started in Real Estate With Little Money or Experience

Learn Your Market

Pick someplace you want to work in. It could be where you live. It could be the trendy part of town, or it could be near your place of work. Wherever it is, learn what properties in that area are selling for in tip top condition. Once you do that, say for single family homes, you have an idea of the average repaired value (ARV) in your market. You will need to know this information so you can spot a deal when it comes along or negotiate the purchase of a potential deal.

wholesaling-market-research

Network With Other Investors

Before you find a deal, you need to find people to sell it to. Find a way to network with other investors. Learn about the types of deals they are looking for. Learn about the areas they want to do business in. This step is important in two ways. First, you can tailor step one above to your investor customer’s needs. Second, you will need these other investors later on as we shall see.

Look Where Others Are Not

It is really difficult for the newbie investor to compete with more experienced investors on the open market. Homes listed on the MLS or in foreclosure notices simply have too many people looking at them. Competition for these properties can therefore be pretty fierce. You need to find the deals before others do and look where they are not. How?

  • Drive for Dollars: One of the best methods I have used to find deals is what is called “driving for dollars.” This technique has been explained elsewhere, and if you learn what to look for (tall grass, deferred maintenance, and a general unkempt look), it can really work. After driving you need to:
  • Send Marketing Letters: Just do something simple, like a handwritten letter on yellow legal paper. It does not have to be fancy or too wordy. Just say something along the lines of, “I noticed your property and I want to buy it.”
  • Repeat the Steps Above: Do this over and over again. Do not get discouraged if people do not respond to your first attempt. Sometimes it takes three or four times. Your phone will eventually start ringing.

Learn How to Secure the Deal

Since you are new, with little money or credit, your goal should be to flip or wholesale the deal quickly to another investor who you met in step 2 for a fee. To be sure you collect your fee, you need to learn how to secure the deal, and that generally means getting the property under contract. Once you do that, you can assign your contract or have a double closing. Do not tell others about your deal without getting it under contract. There are lots of unscrupulous people out there. Also, don’t use a 30 page contract. A simple one or two-page form is just as, if not more, effective.

questions-commercial-broker

Collect Your Check and Repeat

Perhaps have a nice steak dinner to reward yourself for a job well done.

So there you have it, the answer to the question, “How do I get started with no money or experience?” Not the quick and easy answer that I bet some of you were hoping for, but nothing worth doing or having is ever really quick and easy.

Where are you in your quest to become a real estate investor?

Share your tips and experiences in the comments section below!

Interested in Finding out More? Reach out below

Shawn Ireland

Phone: 913-225-6231

Email: Ireland_Investments@yahoo.com

Address: 1415 Main St. #823, Grandview, MO 64030


Website: www.irelandinvestmentsllc.com/

Facebook: @IrelandInvestmentsLLC/

Instagram: @irelandinvestmentsllc

Twitter: @IrelandLlc


Ireland Investments llc

This information is intended only for the use of the intended recipient(s) and it may be privileged and confidential. Please note that any views or opinions presented in this post are solely those of the author and do not necessarily represent those of the company. This is reposted information and is not original thought of Ireland Investments or anyone associated with the business.

Popular areas we service;


Kansas city Missouri, Overland Park Kansas, Kansas city Kansas, Olathe Kansas, Independence Missouri, Shawnee Kansas, Blue Springs Missouri, Lenexa Kansas, Leavenworth, Kansas, Leawood Kansas, Liberty Missouri, Raytown Missouri, Gladstone Missouri, Grandview Missouri, Belton Missouri, Prairie Village Kansas, Gardner Kansas, Raymore Missouri, Grain Valley Missouri, Ottawa, Kansas, Lansing Kansas, Excelsior Springs Missouri, Merriam Kansas, Harrisonville Missouri, Cameron Missouri, Mission Kansas, Kearney Missouri, Smithville Missouri, Pleasant Hill Missouri, Oak Grove Missouri, Bonner Springs Kansas, Roeland Park Kansas, Parkville Missouri, De Soto Kansas, Richmond Missouri, Greenwood Missouri, Paola Kansas, Basehor Kansas, Tonganoxie Kansas, Odessa Missouri, Peculiar Missouri, Platte City, Missouri, Higginsville Missouri, Lexington Missouri, Edwardsville Kansas, North Kansas City Missouri, Osawatomie Kansas, Louisburg Kansas, Fairway Kansas, Mission Hills Kansas, Sugar Creek Missouri, Riverside Missouri, Buckner Missouri, Pleasant Valley Missouri, Lawson Missouri, Plattsburg Missouri, Lake Lotawana Missouri, Weatherby Lake Missouri, Wellsville Kansas, Edgerton Kansas, Westwood Kansas, Garden City Missouri, Gower Missouri, Claycomo Missouri, Lone Jack Missouri, Drexel Missouri, Lake Tapawingo Missouri, Glenaire Missouri, Dearborn Missouri, Avondale Missouri, Osborn Missouri, Sibley Missouri, Oaks Missouri, Unity Village Missouri, Levasy Missouri, Randolf Missouri, River Bend Missouri, Jackson County Missouri, Johnson County Kansas, Clay County Missouri, Wyandotte County Kansas, Cass County Missouri, Platte County Missouri, Leavenworth County Kansas, Miami county Kansas, Lafayette County Missouri, Ray County Missouri, Clinton County Missouri, Bates County Missouri, Linn County Kansas, Caldwell County Missouri, Crossroads Real estate, 18th and vine Real estate, Hospital Hill real estate, library district real estate, longfellow real estate, dutch hill real estate, quality hill real estate, river market real estate union hill real estate, Greater downtown KCMO real estate, East Side KCMO real estate, Midtown KCMO real estate, Westport Real estate, Hyde Park real estate, Northeast KCMO real estate, Northland real estate, Plaza Real estate, South Kansas City Real estate, Fairway Kansas real estate, Kansas city Kansas real estate, lake quivira Kansas real estate, Lenexa Kansas real estate, Mission hills Kansas real estate, overland park Kansas real estate, prairie village Kansas real estate, Shawnee Kansas real estate, weatherby lake Missouri real estate, westwood Kansas real estate

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

WordPress.com.

Up ↑

%d bloggers like this: