Hey guy’s I am new to the investment process with not that much finance? How do I get started?
May 12th, 2010 by admin
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6 Responses to “Hey guy’s I am new to the investment process with not that much finance? How do I get started?”
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Rental business is not slow, its at an all time high because of all the people losing their houses. Find bank repos, they are the easiest to get and the cheapest, fix them up, rent them, and when the housing market is good again sell them. If you cant get a loan though, and dont have the cash to get started, you neeed to find a partner who has the cash, and you do the leg work.
I don’t know how much money you have so can’t say exactly but if you have too much than possibly you can first think of investing 20% of it in learning this game.
Well yes we all were in in this situation sometime, and I actually started with stock market and started loosing money and learning so I call that investment to learn. Now I am making some real money. but there are less riskier options which many others will suggest you.
I would suggest focusing on your core business of selling real estate, and taking the commissions. Learn to live off what you make, however small, and save 10% of your income into something very safe, such as an insured savings account.
Beware of schemes, on the internet or otherwise, that promise big money fast, with little effort.
After you accumulate several thousand, you can start thinking about investment. I don’t think you’ll be able to actually buy a property, at least not without substantial risk. Look at all the speculators and house-flippers that got burned in subprime. If you really fancy Real Estate, you could consider putting the money into an REIT (real estate investment trust).
If there isn’t enough business selling real estate right now, you may choose to supplement that with another job. I think your best source of income is going to be work for now, not investment.
i would think you ought to go to work at an agency.
it seems obvious you need some experience, and there will be people there who do what you’d like to do.
the rental market here isn’t getting cheaper, so it’s not too slow.
it’s my guess that you really do need some guidance, and yahoo answers is not the best place to get it.
There is no shortcut. It is what it is. Get a partner with some capital or save and work another job to build income and credit.
It is horrendously difficult to buy investment property for nothing down. Before the current credit crunch, it was possible to buy a house to live in for nothing down, if you had a good income and great credit score. It was always hard to get a loan with nothing down for an investment property you weren’t going to live in. With the current credit crunch, it is even more unlikely you can buy an investment property for nothing down. There are books that claim you can, but they offer impractical methods. You are going to have to save up some money for a down payment. That’s the way almost everybody does it. You should also work on improving your credit score.
Read this link. (I am not recommending buying this person’s book, but read his website.)