Website design By BotEap.comReal estate investing is not just for the rich! You’ve probably heard the old saying “It takes money to make money.” Well, I’m telling you, a person with no money and no credit equipped with the proper knowledge and knowing how can do this the same way. This article covers how YOU can do it and what steps you need to take to make it happen.

Website design By BotEap.comMany people believe that you have 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 rich family. All you need is the knowledge, people, and tools available to help you succeed.

Website design By BotEap.comThere are things you need to have in place when investing in real estate. We’ll cover those things and they only cost you a little money, time, and possibly lunch.

Website design By BotEap.comEDUCATION GROUPS YOUR TEAM A MARKETING ACTION PLAN

Website design By BotEap.comEDUCATION: Now, this “Poor Man’s Guide” isn’t going to suggest that you spend tens of thousands of dollars like you’re going to go to college, but keep in mind that education is key. Staying with the theme 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 investing book so you have a foundation to build on. Don’t assume you already know everything there is to know about investing in real estate, but be willing to learn. The web is a source of knowledge and information from which you can gain insight and further your real estate investment education. I STRONGLY suggest that a person spend a minimum of a year educating themselves before attempting to transact. Cost: $50 (some books), 1 year (study time)

Website design By BotEap.comGROUPS: Groups cover many aspects but we were going to focus on two groups. Group One, the groups of people you are with in your daily life. These people are your family, friends, coworkers, and neighbors. Anyone within these groups who tells you “you will not succeed investing in real estate” may kill your dream. I suggest not talking about dream killers about investing. Get new friends to be around. People who will be positive, encouraging and supportive in your new quest to make a dramatic change in your life personally and financially. Group Two, groups like your local Real Estate Investor Association (REIA) or any local group that invests in real estate that you can work with, network, learn and build the relationships necessary for your business be successful. Cost: friends (maybe), build relationships (time)

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

Website design By BotEap.com1. 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. Mortgage banker/broker (with experience working with investors): Develop relationships so you can have a source of financing for your buyers in the future. 3. Contractor/Handyman: They can provide you with the estimated cost to repair the properties. 4.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 adviser: Preferably one who specializes in real estate law, have them review all the documents that he will use in his business. 6. Mentor – Learn and model yourself from someone who has been down this road before, your mentor may be a potential investor for you. Cost: time, lunch (maybe)

Website design By BotEap.comA PLAN: Your plan should be the foundation of your investment. Your plan should consist of the real estate niche you will invest in and how you will achieve your goals. Write down your investment goals from small to large and the steps you plan to take to get there. Your mentor should be able to help you design an investment plan for you. cost: time

Website design By BotEap.comMarketing: As a “Poor Man’s” 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 get you started, they will be the $100, $300 and FREE marketing budgets.

Website design By BotEap.com1. $100 Marketing Plan – for $50 you can order some bandit signs that say I/we buy houses with your phone number. In many cities these signs may be illegal, so I suggest spending $50 on a prepaid phone and listing that number on bandit signs so the authorities can’t 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 typing again I/we buy houses with your number.

Website design By BotEap.com2. $300 Marketing Plan – This is the same as the $100 plan but double the amount of bandit posters plus go to your local print shop and have them print you 1000 to 5000 1/4 flyers. page in those bright, attention-grabbing colors, again indicating that you buy houses. Post these flyers anywhere allowed.

Website design By BotEap.com3. FREE Marketing Plan – Best of all, visit an online business card site and order the business cards just like the $100 marketing. Place dummy ads on online ad-supported sites and other similar sites to build your list of potential sellers and buyers. Network, network, network, let anyone and everyone know what you’re up to from your neighbors, hairdressers, friends, family, co-workers, bartenders, waiters, and anyone you might feel could use your services or put you in touch with someone. who needs your services. Cost: $100, $300 or FREE

Website design By BotEap.comACTION: 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 chicken out, negative thoughts start popping 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 books, online, your mentor, your team members, and your REIA group and put it into action, so you can see the potential in this business, and more importantly, the potential on yourself. When I take action, I often see new investors trying to make that BIG killer 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 Beats A Slow Dime.

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