What if you are starting from nothing?

by Gilbert
(Toronto Ontario Canada)

First off Gentlemen - thank you for your 'Income For Life' ....I downloaded the book immediately and learned more info on Real Estate rental property investment arena in the first 5 minutes of reading your book than any other Real Estate MARKETERS have ever provided - it is filled with very helpful insight (not just hypertext links to redirect you to another page or site and force you to buy additional info) into the great potentials owing rental property could bring.

Myself, I have several years of exp working in vertical real estate markets and services i.e loan modifications consultant - Miami and lead generator for a Mortgage Office in Miami -- always understood the immense potentials flipping and/or renting properties long term could bring --- strategically invested -- Real Estate is hands down the best place to put your money but also the most costly for the investor with a questionable monetary status and credibility and no present cash flow or disposable monies to invest in down payments.

My question---- I have fallen back in my professional life presently--- in the process of organizing a start up online promotional marketing company - but gentlemen I have no disposable income at the moment and my credit sucks

.....is it still poss to get in on this road ?

Gilbert Uretsky
Toronto Ontario Canada
6477806675

p.s. Ive had experience in building professional teams and in developing marketing strategy however in the real estate market I can use some refinement - I was intending to put a group of private investors together to form a pool of funds for down payments to purchase duplexes or various rental properties and start my investment group this way --I cant invest at the moment myself -- but I know the ongoing increases in property values and the equity these properties build -- speaks for themselves and to these private investors as well.

Lots of thoughts shy of a strategy though.


HEEEEEEEEEEELP :)

Comments for What if you are starting from nothing?

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Jan 11, 2016
What if you are starting from nothing?
by: Tom

Hi Gilbert!

Thanks so much for reaching out.

Listen up, anything and everything is possible for you. In real estate, especially in Canada, it's definitely easier to get started with income/good credit and down payment funds :-)

However, we have seen many people join up with friends and family to do Joint Ventures (JVs). Typically one person qualifies for the lending and the other does all the work with managing the property and some sort of percentage split of the cash flow and appreciation is decided upon.

Don't make your life super complicated and try to shoot for the moon with your first attempt. Pooling money together can get tricky from a legal and relationship standpoint. We would recommend finding one or two good JV partners, finding a nice simple investment (like a cash flowing rental property) and get started with one. That's it. Let all the other stuff evolve from that.

It's more important to get started than to get everything perfect. Just begin. To protect yourself find a CASH FLOWING property. The reason for that is this ... in bad economic times it's easier to hold onto a property that is paying for itself than one that isn't. So in good times and in rough times cash flow saves you.

If you're ever in our area feel free to drop in for a chat one day!

Hope that helps a tad .. you can do it.

Tom

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