I want you to read this post carefully. It highlight ways on how to start your real estate investment Properties.
Common issue for beginners coming up with the funds to purchase real estate investment property is cash but you can start investing in real estate without having enough money in your bank account.
I want to tell you reading this that my first deal in real estate investment that I put down was N50,000 but I bet some of you are going to yell at me that you don’t even have that and some will not believe at all.
There’s a way to invest in real estate with no money?
Of course! The number one rule of investing is to use OPM (other people’s money) — I know a man who uses this method
There’s a lot of money out there that isn’t being put to use so it’s your job to market and find it.
Talk with close friends and family about funding your deals and show them the estimated returns that exceed what they are earning in a bank account or CD.
The major methods deals to start your real estate investment properties are:
If you know you have the cash you start your real estate investment properties by buying a property with your cash but this also drains your purchasing power for the next deal that comes along, so you need to plan well.
Using mortgages to leverage your purchase power and help you use your cash funds to buy more than one deal. With this you need to come with a business plan on how start your real estate investment Properties.
Family and friends who will loan you money or come in as partner on the deal putting up the money while you put up the work.
Asking the seller to sell their house to you on a loan and you pay them back over time like they are the bank so they receive interest on their loan. It’s an awesome strategy if you can find these sellers willing to finance the deal for you.
This is one of the common ways some smart investors use in investing in real estate. I mostly use this method too.
You don’t have to earn much to do this. All you have to do is search for a real estate company with a good reputation and make a deal with them. Its simple.
Partnering with a partner, sibling or friends can be a more economical way of getting on the ladder as there is someone else to share the financial burden with. Splitting a deposit three ways, for example, makes it feel much more affordable.
Similar to deposit contributions, you need to work through worst-case scenarios to make sure everyone agrees before you enter into the agreement as trying to unravel it further down the line can be very difficult.
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