Getting started in real estate with out a job or money or credit if I can?

Hi
I am VERY interested in real estate investing but I would like to do a rent-to-own program. I live in Ottawa, ON and I don't have a job or income coming in and my credit is not all that good either. I'm having a hard time finding a job. And I'm sick of begging for one and not getting position. I also live with my family and renting not owning a home and I cannot borrow any money from someone I know(they don't have any to lend.There are a couple of investing courses here but it costs an arm and a leg to take. I've read your book and many others including Rich Dad Poor Dad and I've noticed that most people are afraid to get started , my problem is not fear it is not knowing how to get started with no money and do I need to set up a c or s-corp or should I do investing in my own name at first. And how to pay for start-up fees and professionals? How to structure an offer and so on?
I know that a lot of this comes from experience and doing but I don't know how to get started.

Comments for Getting started in real estate with out a job or money or credit if I can?

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Nov 17, 2010
RE: getting started with investment properties
by: Tom Karadza

Hello,

The answer to this question is going to depend greatly on who you speak with. There's so much "no money down" information out there that I'd like to be able to tell you that you can start with no money but I wouldn't feel comfortable after chasing that golden goose myself for many years. You need money.

It can be someone else's money in the form of a loan or perhaps even a "vendor take back" on the property but at some point if you don't have your own money for a down payment you need to convince someone else to lend it to you in some fashion.

Probably not the most motivating answer ... I know.

Don't spend too much time with all the legal details.

Focus on saving money for your own down payment and then taking the next step from there. Focus is key.

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