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NO income, NO Credit, NO Transport & IRS problems...
| | Tuesday, April 04, 2006 @ 08:21 AM EDT
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Contributed by: Steve Majors
Steve Majors Properties
Read more archived articles about Credit and Finance
Begin real estate investing with No Money, No Credit and even IRS problems. Discover tips and a step-by-step simple plan to get started right away. Is real estate investing really possible with NO income, NO
established credit, NO transportation, and IRS problems?
YES!
The other part of that - the 'What do I do about it?' part - well,
that one is simple, too...
In fact, it is similar to the situation I was once in when I was
starting out in real estate investing.
Let's go through it, step-by-step...
If you have 'no' money, the first thing to say is - if that is true, how
do you eat?
You see, that is one of the most important things you must do to
get started - be honest with
yourself and take a serious look at
your current situation.
If you are serious about real estate investing, you must
understand that the world will not give you a living, nobody will be
your 'daddy' and the government isn't going to make it happen for
you.
Now, I know, this is a bit harsh, but you have to face reality - there
ain't no free lunch anywhere and until you look that truth in the
face, you will never be successful in anything - certainly not real
estate investing.
By now, you are ready to begin your real estate investing journey
with strength and truth, have stopped reading or looking for a link
to get off my list.
You make a choice, which ever way...
For those that are still with me, know that there is no 'sugar
coating' in this message! (to paraphrase a movie - "There ain't no
crying in real estate investing!")
So, here's the step-by-step plan to move from a situation where
you have little income, no credit established, no car and IRS
problems into a world of successful real estate investing...
1. You already conquered the toughest one - facing the truth that
you are the one responsible for your own actions.
Congratulate yourself for this (yes, go to the mirror, right now and
tell yourself "Congratulations! You understand that you are the
one responsible for your actions! You have taken the first step in
real estate investing!")
2. Start profiling properties for other investors. You have taken the
toughest step (you did #1 completely, didn't you? If not, DO IT
NOW!)
You aren't quite ready to take on a deal by yourself - yet.
So, begin your real estate investing journey by finding deals for
others. The Lazy Investor's Guide to Property Profiling is perfect for
that - in fact, it is exactly what it is designed for!
3. As you begin to make money profiling real estate investing
properties for others, don't spend it! (hey, you were living without
income before - stick with that, for awhile - it will pay off soon!)
Put that cash away in a safe place (a bank account would be good
- put it in a debit card with a major credit card logo - that
establishes credit FAST!
To skyrocket your credit, take the steps detailed in The Lazy
Investor's Guide to Raise Capital, Build Credit and Wipe Out Debt.
4. Look for real estate investing deals for others, but now that you
have a bit of cash, look for other real estate investing deals for
yourself. One of my favorite things to do with a bit of cash is to
work Lease Purchase real estate investing deals.
Now, they don't always require it, but you will find a lot more real
estate investing deals to work if you put a small amount down (I'm
talking $10 or $100 most of the time - which is the legal minimum
in most states).
Depending on the deal, you might put $1000 on it.
See my website for more on how to make tons of cash from this
powerful real estate investing tool (yeah, it is my absolute favorite
real estate investing method!).
5. Now, you are on your way! Make all the deals you can for
yourself and sell off those you can't to other investors, you make
plenty of income to begin to take on even bigger real estate
investing deals.
The Lazy Investor's Guide to real estate investing is the right
thing for you. With this, you start to make more creative real
estate investing deals, with more cash staying in your pocket.
That is what you want, isn't it?
That's it for now on this question - oh, as for the 'no car' and 'IRS
troubles' part...
After you make some cash, buy a bicycle, then a scooter or
something, then a car - to really start, you may have to actually
WALK around to find real estate investing deals at first...
If you don't like that answer, re-read #1...
IRS problems - you got yourself into them, do what it takes to get
out of them! Use some of that cash you are making from real
estate investing to pay off the bill and get on with your life!
You can often negotiate with the IRS to either get a payment plan
or drop the total bill. You might want to check out The Lazy
Investor's Guide to Sales, Marketing and Negotiation if you need
skills in this area.
Do this, or choose to live in fear and hiding the rest of your life...
If you don't like that answer, re-read #1...
OK, I'm done on this one - more later....
Happy real estate investing,
Steve Majors - The Lazy Investor
P.S. Do you have a friend that needs to hear this for themselves? Pass this message along! Send the link where you saw this to everyone you know!
Steve Majors - The Lazy Investor
Note: Steve Majors - The Lazy Investor
Profit from Real Estate Investment articles, real estate investing information and news from one of the most creative investors on the planet
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