Discussion in 'Real Estate' started by EF-Roger, Jan 8, 2016.
I'm sure I am not the first one to ask this question.
So let's get a discussion going.
There аre severаl wаys tо generаte а buzz fоr yоur business withоut breаking the bаnk. Sосiаl mediа is а greаt wаy tо gаin exроsure аnd interасt with роtentiаl сustоmers. Yоu саn аlsо reасh оut tо lосаl mediа аnd оffer yоur exрertise.Mаke аs mаny lосаl mediа соntасts аs yоu саn аnd be extremely resроnsive with their requests. This саn leаd tо them tо brаnding yоu аs the lосаl аuthоrity, generаting рlenty оf free рress fоr yоur business.
Depending on what aspect of the real estate business you decide to explore. If you are looking to search for investment properties for investors, yu will not need start up cash. If you want to buy a fixerupper and sell it once is fixed, you will need an investor so that you can split the profits with (usually hard cash). And there are many more options, I'm sure we can get more opinions going in this forum.
First, you need to arm yourself with ample knowledge on the business, particularly in the real estate industry. Second, you should have an experience in dealing with clients even only for a short period of time. Third, building up a connection or network is in order. With a startup, you can do it with no capital if you are completely ready for the battle. But I'm talking of real estate sales be it lot, condo, houses and what have you. Selling by commission would be your scheme until such time you have built up a capital from your commissions.
There are ways, depending on the business, but you'll always need some start-up capital, for a suit, phone, business stationary, marketing etc. If you are going to act as a broker or Buying Agent, who is hired by clients to find properties for them, you will need far less start-up capital as you don't have to buy the properties yourself. However with no track record or connections that is a hard market to break into. If you already have connections in the market, or with people who are looking to buy property, it would be easier.
Qualifying as a realtor or estate agent might be an opportunity, but depending on where you are based you may need to pass qualifications, which can again require money.
If you are planning to buy and flip property yourself, then you'll need start-up capital, which means making a business plan and approaching an investor. You might have better luck with a venture capitalist than a bank, particularly if you can show that you already have relevant skills (e.g. a builder planning to buy and flip a property is more likely to convince an investor they have the skills to do it). Even buying at auction, property can be expensive, and often needs upgrades or repairs before it can be sold on. If a house was foreclosed on, the owners probably didn't have a lot of cash for its upkeep.
The other way would be a website for people to list their houses, with premium promotional features that they could purchase, but that market is a bit flooded at the moment. It might work if you went hyper-local or focused on a certain market segment.
I do not know if you have heard o wholesaling homes. Well i you have not it is a business where you literally need little to no capital. No capital if you use free online websites like social media or Craigslist, little capital to market yourself as someone who buys houses. And from there you find people who want to sell their home of the market and you find an investor who love to by off market deals. And yea i am sure there are websites out there that give more info
Your best shot in real estate with the 'No money down' route is in fact building connections while at the same time expanding your knowledge and personality by working for FREE...yeah you hard me do what others aren't prepared to do because if you're deadly serious about doing this then you will do ANYTHING it takes. Work on the weekends on behalf of an investor to bring him deals. He will then share with you contacts and lessons his learn and there you have a break in the real estate word!
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