This post is addressed to anyone starting in the real estate field with little to no money in the bank and for anyone who just wants to keep more of their hard earned money in the bank where it belongs.
Personally, like many of you know and as described in a previous article, I had no money or credit when I first started investing in real estate. I am the proof no money is needed. There are dozens, I WILL REPEAT, dozens of methods to purchase, hold and sell real estate for huge returns that do not require any money or credit from you.
I have had the opportunity to help hundreds of investors in the mobile home investing business get started. One of the biggest misconceptions is that starting capital will determine your future success.
The reality is it may be better to “always” invest with the mindset of a broke (but savvy, knowledgeable, and eager) investor with no money and no credit.
WHY? Internalizing that you do not have money, even if you do, will force you to create “WINNING” deals that require no money or credit to purchase and turn for a large profit.
Even to this day I always review my offers twice before I make a purchase offer for a property. I pretend that I am still a brand new investor with little to no cash or credit. Often times I will then realize that I am offering too high of an offer. If you have the money to spend, it is human nature to over offer on a property you know will make you thousands in cash-flow. You may easily offer thousand more to a seller when you never had to.
Learn these methods, strategies and tactics from a real estate investor that has been through the ropes before.
Happy investing and remember that you can succeed in the current financial situation you are in. If you continue waiting for the right time to begin mobile home investing it may never come. Take action right now!
-J. Fedro
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