Hey Everyone

just thought i'd bump this up....

Let me tell you it works my friend! Work on finding the money. I can tell several places to find funds.. Send me a PM and I will help.

Eric- I let my son complete the first deal we ever did... to show him that it works. He was young.... had no job, no credit, and no money. I see that Eric advises to work on finding money.... What will you do with it when you find some? Id say time better spent would be on " DEALS " how to find them, how to structure them and how to pass them along to others for money.
You do this and the money will find you. You can Read, Read, Read and then read some more.... or you can leap frog this and get a good mentor who knows this process, to teach you. Its not as difficult as one may think.

DG

Thank you for commenting and assisting me with info on my post...

I know it has been quite a while since I posted this, but for some reason I got kind of discouraged about Real Estate investing, and took a little break..

However, now I am back and ready to continue on my path to becoming successful in this...

So you said... "what will you do with it (the money) when you find some?" well, I would think having the money first would be the ideal situation in beginning investing. I mean, if I had the money then I can definitely find the deal suitable to the money I had found...

In the past I have found (what seemed to be) pretty good deals, but unfortunately haven't been able to act upon them, because I had now way of funding them..

So, my question to you.. is if it would be possible to help me and show me how you got started...

Thank you very much for everything in advance Raven, it all is definitely appreciated...

It is definitely tougher to begin in real estate with no money down if you are trying to fix and flip or buy and hold properties. The way I started and the way I teach most of my clients to begin is by finding a property and passing it off to other investors. Your knowledge of construction etc will be of huge benefit to you as you evaluate the property and tell your investor what they are in for when it comes to rehab. Bottom line is that you won't need any money doing things this way. I've done it hundreds of times and made a small fortune doing so. It's a great way to begin, and in my case, continue investing.

Good luck!

I have done quite a few deals now and NEVER used a single dollar of my own $$.

One wholesale deal, I walked away w a $23,000 ck. On one of my L/O deals, I negotiated $24,000 up front from the SELLER to take the house and then got $5,000 from the BUYER as an Option Fee. The ARV on the house was only $45,000!!! Not ONE DOLLAR out of my pocket!

If you have no cash, don't try to do Fix/flips or buy/holds. Your exit plan is tremendously important to your success. Don't set yourself up for failure with an exit plan that depends on cash out of pocket!

You are way ahead of the game by having the background that you do, but you cannot use it in the same way that has made you no money all these years. Use it as a lever, to analyze a deal. You are still thinking inside that box which is your comfort zone. Get uncomfortable and get successful!!!

What is this stuff??? "however; I AM limited to electric/plumbing work." Who told you that??? "And am starting to wonder if "starting in Real Estate with NO MONEY" is really true....???" Whose site have you been on??? You have seen person after person after person after person on here that has made it happen. Don't keep making excuses! The Law of Attraction is ABSOLUTELY, POSITIVELY TRUE!!! And so is RE with NO MONEY!

I believe in you! What the heck is your phone number??? PM it to me! (please be forewarned that I have just had a hip replacement this week and am on pain medication!) But if you know me from this site and all my posts, you will see that I am just as abnormal with or without medication!

Karen

Hey Chris & Karen.. Thank you both very much for the motivational words... That's why I love this site!! You NEVER run into a negative person on here, and a person can get ALL the help and push needed to NOT quit!!

Last week I started to read Dean's book "30 days to RE cash" and have now FINALLY realized that wholesaling is the best way to go when a person is just starting and it is coming to be more clear of how it is possible to begin with no money... But, I think a person definitely HAS to have a very good relationship with an investor in doing so (just in "earnest" money and costs arise)...

Now I have a question and don't know if I should be posting it here or create a new forum...
but, Recently I was told that wholesaling is illegal here in Colorado... Unless the person doing the wholesaling is in fact a licensed agent??

You are selling your RIGHTS IN THE CONTRACT. You are NOT selling the property. To sell someone else's property and get a fee, you need to be a licensed REA.

It is legal in EVERY state to sell your rights in a contract.

As far as to whether you should be starting a new thread w your new question...it is YOUR thread, you can post whatever you want in it. If someone else had started the thread and you had a new question, then you need to start a new one and not "hijack" their thread. Make sense?

Karen

We are getting our buyers list going and we think having more than one investor is a good idea so if one drops out you have a back up.
Yes this site is full of helpful people that just want to help, thanks everyone for your input you guys help us all.

Aaron

HI ERIC: FIRST i want to say to you forget about all those stories you tell
yourself,it not a good place to start. THEIR is a lot of funding
sources out there, you just need to know where to look.I can tell
you if you do not know that private lending actually take over
traditional lending. IF you are any one on this site need money,
whether for residential or commercial deals just PM me.

t.taylor

Hey Karen...

Thank you for your input on the matter... I have been speaking with Michael Manningham (a wholesaler here in CO.) and he is proof enough that it is NOT in fact illegal as he has been doing this for years and does not have an RE license..

So, I believe I will not continue on with this RE agent, as she does not seem to understand, and does not seem to eager to make money!! haha....

Hey Aaron...

It is definitely better to find and get as many investors/cash buyers as possible.. however, I would think that in order for a wholesaler to depend on the investors money for any "up-front" costs or any kind of earnest money... That wholesaler would have to have an excellent relationship with that vendor...??

Hey t. taylor....

Thank you for the info and for the offer... After researching and educating myself on "wholesaling" feel I am going to try doing this with no money (of my own) for now and try getting to the point where I can actually take a look at the bigger picture and try for MY OWN buy & hold properties... When I come to this point, I will definitely look into private money again and will then definitely get all the info you possess...

Thanks again, you are awesome..!!

P.S. I will still send you a PM... ya know, just so I will not lose your info for
future reference...K??