Do you want to invest in real estate so badly but you don’t have the money for it? Then here are some ways on how to make it all possible:
1. Forget Investing: Try Working First – The first, and easiest way to get into the real estate investing field is by … not investing?
That’s right. When you are just getting started, and you don’t have any money – one of the best ways to build up your income, increase your knowledge, and make connections is by working in the field of real estate without actually investing. There are dozens of different jobs you can use to get in the field – such as:
- Real Estate Agent
- Title Company Rep/Escrow Officer
- Construction Worker
- Project Manager for an Investor
- Assistant to an Investor
- and many, many more
The obvious benefit of this kind of work is that you are able to learn about the business while earning an income. For many, who simply jump into real estate investing, they actually lose a lot of money in the beginning. Additionally, you can earn money while meeting influential people who can help you out later on your journey. Source: Bigger Pockets
2. Private Money Lenders – Private money lenders could be just about anyone you meet or know. Private investors are just regular people like you and me who have retirement accounts or disposable income reserves that they are looking to invest. In most cases, they are not actively seeking new investment vehicles – but if you know them and talk about what it is that you do, then chances are very good that they may actually approach you instead of you approaching them. Source: Quick and Dirty Tips
3. Look into seller financing – If the seller is motivated enough, s/he may be willing to make it easy for you to buy.
- You might make higher monthly payments instead of a down payment.
- You could even negotiate a deal where the seller pays your down payment to a traditional lender in order to sell the property faster. The seller might expect you to pay him/her back or s/he may throw the down payment in for free, essentially lowering the selling price. Source: Wikihow
Gary Wong Realty
2105 West 38th Ave, Vancouver, BC V6M 1R8