How much do you think is a good enough amount of money to break into investing?

I won't be investing for a good amount of years, but would like to know how much to save up.

Thanks

I got started by taking a 2nd on my house and still haven't paid a dime out of my pocket

__________________
"People with goals succeed because they know where they are going... It's as simple as that." - Earl Nightingale

The Service Hut
The Lights on Hill Street

One For All and All For One

It depends on what you hope to achieve.

Buy and hold? Smartest way would be saving up to 20% for down payment.

Want to get into RE quicker? Become a bird dogger. Eventually, you could try Subject To with little or no money (if you know what you're doing).

Is there a reason why you think you have to wait?

Don't wait! This might be the best buyer's market we will see in the next 10 years!!

Read, learn, ask questions until you are comfortable that you know what a good deal is when you find one. Talk to landlords who are looking to add to their portfolio. What kind of positive cashflow are they looking for on deals they buy? Stop and talk to anyone rehabbing a house in the neighborhoods you want to work. What are they looking for?

Then get out and drive. Call on For Rent and FSBO signs. Copy down addresses of vacant houses and track down the owners. See if you find some motivated sellers and tie the deal up with an option or purchase agreement that gives you time to find a buyer. Or if you trust any of the landlords or rehabbers you talk to, find out what kind of referral fee they will pay for good leads (photos, terms the seller is willing to accept, etc.).

If this is really something you have a passion for, the lack of capital should not keep you from getting started.

Good luck!

__________________
Jeff B.
Atlanta GA

I started with a negative bank account but I had a lot of knowledge. If you want to save anything, save, a little down payment money and money for things like appraisals, inspections, repair estimates and title check/insurance, closing cost basically and some holding cost money. That's not much money so it definitely doesn't take years to save that. However based off your question, education is your best bet. I spent any money I ever had on education and therefore didn't need any to start investing. There are ways
to invest as well as things such as partnering up that can bypass all that waiting stuff.

__________________
773-678-7240
www.myspace.com/abetterlife2
Global Residential Development
Chicago, IL

Depends on what you want to do, you want to go high volume and get it while it is here, then a bunch of money.

Take my advice, start building corporate credit now, and often. The cash side of this business seperates the men from the boys (no offense girls from the women as well).

Cash is king in this business, and don't let anyone tell you anything else.

__________________
Steven Brown
Cash 4 Houses, LLC
HomeVestors
Mobile, Al
251-366-HOME
steve.brown@homevestors.com

So for those of you who started investing with little or no money, how could you afford to invest?

Bust your ass. Start as a bird dog, work on your corporate credit, build up your lines of credit, then cut it loose.

Start out with a mentor, that is the best way, hook on to someone and do everything that they ask you to, but learn EVERYTHING you can.

__________________
Steven Brown
Cash 4 Houses, LLC
HomeVestors
Mobile, Al
251-366-HOME
steve.brown@homevestors.com

I will give you my quick version of how it goes. Like Steve said, you will need money to get to certain
statuses and heights within the business. However to start, money is not needed. It can help for sure
but it is not needed. However education is needed because if you don't know what you're doing, you
are going to get yourself in some mess. No matter what, all business is done through relationships.
I am a member of this site because of the relationship with the like minded people here. If I wasn't
interested in investing, or an investor or involved in real estate in anyway, I wouldn't be here. Therefore to start with no money, you have to find someone who doesn't care about how much money you have.

There are sellers out there who don't care about all that prequalified, preapproved, earnest money
amount or downpayment amount stuff. They don't care about your credit. They don't care about how
many deals you have done or haven't done. They only care about if you can help them and if you can,
you got the deal. You got the price or terms you need and you got the control over the property. You
got whatever you need to make the deal work. It is all about relationships. That might sound a little
different than what you are use to hearing but it's true. Therefore, your negotiation techniques is your
key when you don't have cash. The same for buyers whether they are investors or owner occupants.
The same for agents, brokers, attorneys, partners. Learn how to give people what they want while
getting what you want and you can do deals all day long without money. You need education on how
to do that though and thats why I said, your biggest issue right now is not money but education.

__________________
773-678-7240
www.myspace.com/abetterlife2
Global Residential Development
Chicago, IL

I found out from flip this house tv show that armando have a complete workbook manual with a lot of cd's to get you started apparently, you don't need credit, money or experience worth to take a look at his website anyway. http://ymayaba1.armandomontelongo.com

I am myself very interested to get started and have none of those creteria, worth a look I suppose.