Do you think you should buy your first real estate so you can learn about the real estate? If you think so then you have to prepare quite some money, I think at least several thousands or even more.
But today, you can break this believe because I’m going to share with you one of the secret to get started in Real estate for $150 or less!!
Today when I surf around the Richdad Forum (Most of the time I visit this forum) and I found Marcos just make a really good article about getting started in real estate at the low cost. But the article is really long and Marcos already reminded us through his title : Getting started in Real Estate Investing (Long)
Ok, I’m not going to post the entire entire article here, please forgive me Marcos, if you know this. But credit still goes to you!
I will extract out some of the main point and post it here. If you wish to read the entire story, you can pay a visit by clicking on this link.
How to get started in Creative Real Estate for $150 or less
Main Point:
- First of all, Marcos share some great site with us:
http://www.creonline.com
http://www.realestatelink.net
http://www.dealmakerscafe.com
http://www.mrlandlord.com
http://www.landlord.com
Search around the site and print the articles that catch your attention. File them up and read them when you are free.
- Why don’t share all your knowledge with others? Because you don’t want them to make you down due to their negative respond.
- Time to spend some money to buy some books for reading. Here is the list Marcos recommended :
Flipping Properties: Generate Instant Cash Profits in Real Estate William Bronchick
Can be bought from Amazon.com for $13.26
How to Create Multiple Streams of Income Buying Homes in Nice Areas with Nothing Down- Peter Conti, David Finkel
Amazon.com $13.96
Buy It, Fix It, Sell It: Profit - Kevin C Myers
Amazon.com $13.26
Rich Dad, Poor Dad - Robert Kiyosaki
Amazon.com 11.16
Maximum Achievement - Brian Tracy
Amazon.com 11.20
Total : Around $62.84 at Amazon.com(included shipping)
- Call Ron Legrand’s Institue at 1-800-387-4306. For $19.95 including shipping, you’ll get Ron’s Cash Flow Generator course. Inside there, you can get his Fast Cash Book and 10 audio tapes.
Total that you spend : $ 82.79
- Now is time for Ebay. Marcos recommend us to buy some learning material from Bill Kaier in Ebay. He has 4 tapes in his real estate course, 4 tapes on Mortgages, 2 tapes on Exchanges and 1 advance tape. The price should be at $39 + $4 for shipping
- Another tape set from Ebay. Roger Dawson-Secret of Power Negotiating for about $10.
Total that you spend : around $140 after shipping
- Now is time to look for some investors. Marcos recommends we should call all the investors in “We Buy Houses†ads in the paper.
The important mission of this step is build a list of 10-30 investors.
- The next thing Marcos recommended was trying to find a property to flip. Here is the list of things that you can do :
1. Compile your investor list
2. Drive around looking for abandoned properties
3. Track down the owners
4. Make offers
5. Get the property under contract
6. Sell the contract to another investor
7. Walk with $3-10,000
Don’t you think it is easy to earn money with Marcos idea? Hmm…
9. Don’t make a “Home Runâ€Â. Just learn little by little.
This article actually is a must for everybody who wants to learn about Real Estate. The idea inside there let us start learning at the lower cost, less than $150 and even ideas that can bring us money. In this way, we can learn and at the same time also can collect some modal to start investing. Pretty cool article.
Source : Richdad.com
Credit : Marcos
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