Real estate investing is not just for the rich! You’ve probably heard the old saying “It takes money to make money.” Well, I tell you that a person without money and without credit equipped with the proper knowledge and knows how to do this anyway. This article covers how YOU can do it and what steps you need to take to make this happen.

Many people believe that it is necessary to be rich to invest in real estate, like Hilton or Donald Trump. Or they think you need to save thousands of dollars for a down payment like when you buy your home. Both thoughts couldn’t be further from the truth. You don’t need to save thousands or come from a wealthy family. All you need is the knowledge, people, and tools available to help you be successful.

There are things to keep in mind when investing in real estate. We will cover those things and it will only cost you a little money, time, and possibly lunch.

EDUCATION GROUPS YOUR TEAM A MARKETING ACTION PLAN

EDUCATION: Now this “Poor’s” Guide isn’t going to suggest that you spend tens of thousands of dollars like you would in college, but keep in mind that education is key. Staying with the topic of this article, we understand that money is not a surplus, so we suggest you go to your local bookstore and get a basic real estate investment book so that you have a foundation to build on. Don’t assume you already know everything there is to know about real estate investing, but be willing to learn. The web is a source of knowledge and information from which you can extract information and further your education in real estate investment. I STRONGLY suggest that a person spend a minimum of one year educating themselves before attempting to transact. Cost: $ 50 (some books), 1 year (study time)

GROUPS: Groups cover many aspects, but they are going to focus on two groups. Group one, the groups of people that surround you in your daily life. These people are your family, friends, co-workers, and neighbors. Anyone within these groups who tells you “you will not be successful investing in real estate” can kill your dream. I suggest not talking to dream killers about investments. Get some new friends to be around. People who will be positive, encouraging and supportive in your new quest to bring about a dramatic change in your personal life and financially. Group Two, groups like the local Real Estate Investors Association (REIA) or any group that invests locally in real estate that you can work with, network with, learn, and build the relationships necessary for your business to be successful. Cost: friends (maybe), building relationships (time)

YOUR TEAM: To build your team, you need to develop yourself and your people skills. There are many members of your team that will be required to be truly successful and avoid many of the obstacles along the way. Its value far outweighs the time and money spent (possibly lunch), rather than trying to go it alone. Starting your team should include but not be limited to.

1.A real estate agent (with experience working with investors): Real estate agents who have worked with investors understand what you are looking for and what you are trying to do. 2.Banker / Mortgage Broker (with experience working with investors): develop relationships so that in the future you can have a source of financing for your buyers. Contractor / Maintenance Personnel – They can provide you with the estimated cost of repairing the properties. Title company (with experience working with investors) – They are familiar with creative deals and can help you with the best way to close a deal. 5. Lawyer / Legal Advisor – preferably one specialized in real estate law, ask them to review all the documents that you will use in your business. Mentor – Learn and model yourself from someone who has walked this path before, your mentor can be a potential investor for you. Cost: time, lunch (maybe)

A PLAN: Your plan should be the foundation of your investment. Your plan should consist of the real estate investment niche you are going to do and how you are going to achieve your goals. Write down your investment goals, small to large, and the steps you plan to take to achieve them. Your mentor should be able to help you design an investment plan for you. Cost: time

Marketing: As a “poor” real estate investor, it is understood that you need to get the most out of your investment. So I will mention three marketing budgets to start with, they will be the $ 100, $ 300 and FREE marketing budgets.

1. $ 100 Marketing Plan: For $ 50 you can order some bandit posters that say I / We buy houses with your phone number. In many cities, these signs can be illegal, so I suggest spending $ 50 on a prepaid phone and writing that number on the bandit signs so authorities cannot trace them back to you. Go online to one of the many card companies where you can get 250 to 500 business cards for free. If possible, get them in bright yellow, pink or orange by simply stating again that we buy houses with their number.

2. $ 300 Marketing Plan – This is the same as the $ 100 plan but doubles the number of bandit posters plus go to your local print shop and have them print 1000 to 5000 1/4 brochures for you of page in those bright, attention-grabbing colors. , again indicating that you buy houses. Post these brochures anywhere you are allowed.

3. FREE Marketing Plan – Best of all, you visit an online business card site and order the business cards as $ 100 marketing. Place dummy ads on online sites that allow ad serving and other Similar sites to build your list of potential buyers and sellers. Make contacts, contacts, contacts, let everyone know what you are doing from your neighbors, hairdresser, friends, family, co-workers, waiters, waiters and anyone who may feel like they can use your services or put you in contact with someone. who needs your services. Cost: $ 100, $ 300 or FREE

ACTION: This is the moment of truth and the most difficult for many who want to invest in real estate; taking action. I know and understand that when you get to this point you have cold feet, negative thoughts start to creep into your head (what if, what if, what if) and you need to stop them in their tracks. Take what you spent a year learning from the books, online, your mentor, your team members, and your REIA group and put it into action, so you can see the potential of this business, and more importantly, the potential. on yourself. When I act a lot, I see new investors trying to make that big BIG deal early on when they don’t even have a firm grip on how to make a deal. May I suggest that you try to earn some money, not all the money at once. His and the old saying where I’m from … A fast nickel is better than a slow penny.

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